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Study on the Dynamic Relationship Between Social Security Expenditure, Population Aging and Economic Growth
- 1 Harbin No.9 High School International Department, Harbin, China
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Abstract
As the global wave of aging accelerates, China has entered a notable phase of moderate aging. This profound demographic shift has not only reshaped the population composition of society but also posed severe challenges to the driving force of economic development and the carrying capacity of the social security system. This paper delves into the intricate and interdependent relationship network among population aging, social security expenditures, and economic growth. The research finds that the aging process directly impacts the potential and speed of economic growth by reducing labor supply and increasing labor costs. Conversely, the strength of economic growth serves as the cornerstone, determining the financial adequacy and sustainability of the social security system, which in turn indirectly influences the welfare protection level for the aging population. Therefore, the core strategy for addressing the challenges of aging lies in stimulating the vitality and potential of economic growth to provide a solid economic foundation for the social security system. Simultaneously, it is necessary to meticulously design social security policies to ensure that expenditures meet the reasonable needs of the elderly population while avoiding excessive fiscal shocks to stability.
Keywords
Population Aging, Social Security Expenditure, Economic Growth
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Cite this article
Zhao,P. (2024). Study on the Dynamic Relationship Between Social Security Expenditure, Population Aging and Economic Growth. Advances in Economics, Management and Political Sciences,142,66-71.
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Volume title: Proceedings of ICFTBA 2024 Workshop: Human Capital Management in a Post-Covid World: Emerging Trends and Workplace Strategies
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