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DEMOGRAPHIC EFFECTS ON ECONOMIC GROWTH AND CONSEQUENCES FOR THE PROVISION OF PENSIONS
Author(s) -
Misoulis Nicholas
Publication year - 2008
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2008.00797.x
Subject(s) - economics , population , capital (architecture) , labour economics , working population , population growth , demographic economics , population ageing , human capital , development economics , economic growth , geography , demography , archaeology , sociology
As the population of an economy ages saving declines and, through that channel, economic growth can decline too. Returns to physical capital fall, making the provision of pensions more and more difficult. The income of the working population deteriorates and they respond by having fewer children. This intensifies the problem even further.