CONSUMPTION EXPENDITURE OF THE ELDERLY IN THE EUROPEAN UNION: CONVERGENCE AND IMPACT ON GDP

In the context of an ageing population, the aim of this study is to analyze how the consumption expenditure of the age group 50 plus affected the GDP growth rate during the period 2005-2019, at the level of the European Union countries. Using spatial econometrics, we study the convergence process of...

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Autor principal:	Sanda Anca
Formato:	article
Lenguaje:	DE EN FR IT
Publicado:	University of Oradea 2021
Materias:	ageing population; consumption; spatial analysis; economic converg Business HF5001-6182 Finance HG1-9999
Acceso en línea:	https://doaj.org/article/c5e3f3b77673442b9a10496aad50c49d
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spelling	oai:doaj.org-article:c5e3f3b77673442b9a10496aad50c49d2021-11-09T19:45:21ZCONSUMPTION EXPENDITURE OF THE ELDERLY IN THE EUROPEAN UNION: CONVERGENCE AND IMPACT ON GDP1222-569X1582-5450https://doaj.org/article/c5e3f3b77673442b9a10496aad50c49d2021-07-01T00:00:00Zhttp://anale.steconomiceuoradea.ro/volume/2021/n1/029.pdfhttps://doaj.org/toc/1222-569Xhttps://doaj.org/toc/1582-5450In the context of an ageing population, the aim of this study is to analyze how the consumption expenditure of the age group 50 plus affected the GDP growth rate during the period 2005-2019, at the level of the European Union countries. Using spatial econometrics, we study the convergence process of both the consumption expenditure of the 50 plus age group and the GDP. Furthermore, we analyze the relationship between the two variables and its evolution in time. We conclude that there is a bidirectional relationship between the studied variables: an increase in the growth rate of the 50 plus age consumption significantly and positively impacts the GDP growth rate and vice versa. At the level of Western European states where the share of 50 plus population is the highest, the impact on GDP growth rate is stronger. The results are relevant for further identifying possible economic opportunities created by the ageing population while supporting the European Union cohesion policy through the convergence process aimed at reaching an overall harmonious development within the member states and regions.Sanda AncaUniversity of Oradeaarticleageing population; consumption; spatial analysis; economic convergBusinessHF5001-6182FinanceHG1-9999DEENFRITAnnals of the University of Oradea: Economic Science, Vol 30, Iss 1, Pp 268-275 (2021)
institution	DOAJ
collection	DOAJ
language	DE EN FR IT
topic	ageing population; consumption; spatial analysis; economic converg Business HF5001-6182 Finance HG1-9999
spellingShingle	ageing population; consumption; spatial analysis; economic converg Business HF5001-6182 Finance HG1-9999 Sanda Anca CONSUMPTION EXPENDITURE OF THE ELDERLY IN THE EUROPEAN UNION: CONVERGENCE AND IMPACT ON GDP
description	In the context of an ageing population, the aim of this study is to analyze how the consumption expenditure of the age group 50 plus affected the GDP growth rate during the period 2005-2019, at the level of the European Union countries. Using spatial econometrics, we study the convergence process of both the consumption expenditure of the 50 plus age group and the GDP. Furthermore, we analyze the relationship between the two variables and its evolution in time. We conclude that there is a bidirectional relationship between the studied variables: an increase in the growth rate of the 50 plus age consumption significantly and positively impacts the GDP growth rate and vice versa. At the level of Western European states where the share of 50 plus population is the highest, the impact on GDP growth rate is stronger. The results are relevant for further identifying possible economic opportunities created by the ageing population while supporting the European Union cohesion policy through the convergence process aimed at reaching an overall harmonious development within the member states and regions.
format	article
author	Sanda Anca
author_facet	Sanda Anca
author_sort	Sanda Anca
title	CONSUMPTION EXPENDITURE OF THE ELDERLY IN THE EUROPEAN UNION: CONVERGENCE AND IMPACT ON GDP
title_short	CONSUMPTION EXPENDITURE OF THE ELDERLY IN THE EUROPEAN UNION: CONVERGENCE AND IMPACT ON GDP
title_full	CONSUMPTION EXPENDITURE OF THE ELDERLY IN THE EUROPEAN UNION: CONVERGENCE AND IMPACT ON GDP
title_fullStr	CONSUMPTION EXPENDITURE OF THE ELDERLY IN THE EUROPEAN UNION: CONVERGENCE AND IMPACT ON GDP
title_full_unstemmed	CONSUMPTION EXPENDITURE OF THE ELDERLY IN THE EUROPEAN UNION: CONVERGENCE AND IMPACT ON GDP
title_sort	consumption expenditure of the elderly in the european union: convergence and impact on gdp
publisher	University of Oradea
publishDate	2021
url	https://doaj.org/article/c5e3f3b77673442b9a10496aad50c49d
work_keys_str_mv	AT sandaanca consumptionexpenditureoftheelderlyintheeuropeanunionconvergenceandimpactongdp
_version_	1718440882261196800

CONSUMPTION EXPENDITURE OF THE ELDERLY IN THE EUROPEAN UNION: CONVERGENCE AND IMPACT ON GDP

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