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Based on the Analysis of Existing Economic Policies, Compares the Response of Economic Policies to Population Ageing between the UK and Japan
- 1 Shanghai Cambridge Bilingual School
* Author to whom correspondence should be addressed.
Abstract
In the context of the changing age structure of the global population, many countries are experiencing the economic consequences of this problem, such as severe dependency ratios and a reduction of qualified workers, which will harm the country's potential economic growth capacity. In order to mitigate the negative effects on the economy, both Japan and the United Kingdom have developed economic policies to deal with population ageing. These policies all revolve around healthcare, pension and employment. These economic policies are similar in some respects, such as in employment, where the two countries try to raise the retirement age of the elderly from various aspects, but show different policy biases in further policy-making for different reasons, such as different cultural backgrounds. This paper analyzes these similarities and differences by reviewing past literature and policy cases, making preliminary conjectures and summaries on the causes of these characteristics through past literature, and analyzing the effectiveness of some of these policies. Finally, we conclude from the study that these policy differences are due to different cultural, and historical backgrounds and current economic situations between the two countries.
Keywords
economic policies, population ageing, United Kingdom, Japan
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Cite this article
Sun,W. (2024). Based on the Analysis of Existing Economic Policies, Compares the Response of Economic Policies to Population Ageing between the UK and Japan. Journal of Applied Economics and Policy Studies,9,70-76.
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