Age Structure and Economic Growth The Case of Sri Lanka
Abstract: The age structure and its impact on economic growth is a current issue that concerns all countries in the world. For Sri Lanka, the issue lies within an ageing population and the economic implications of the growing share of elderly. Thus, this paper strives to investigate how the age structure in Sri Lanka affects the economic growth, mainly looking at the ageing population. A time series regression analysis will be conducted with age shares as explanatory variables to investigate the age structure’s effect on the economic growth. The regression analysis is based on the Solow model with human capital that has been extended to include variables for age structure. The result shows that only the prime working age group has a significantly positive effect on the economy.
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