Ageing Population's Impact on Economic Growth in Malaysia From 1981 to 2019: Evidence From an Autoregressive Distributed Lag Approach

This study investigates the impact of the ageing population on the economic growth for short- and long-run estimations in Malaysia, by using time series data from 1981 to 2019. This study adopts the autoregressive distributed lag (ARDL) method with the Bound test approach for the long-run estimation...

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Autores principales:	Siti Nur Ain Mohd, Ayunee Anis Ishak, Doris Padmini Selvaratnam
Formato:	article
Lenguaje:	EN
Publicado:	Frontiers Media S.A. 2021
Materias:	ageing population economic growth endogenous growth model ARDL Malaysia Public aspects of medicine RA1-1270
Acceso en línea:	https://doaj.org/article/f902f47718d84925b3ec352c176cd488
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spelling	oai:doaj.org-article:f902f47718d84925b3ec352c176cd4882021-11-30T16:56:55ZAgeing Population's Impact on Economic Growth in Malaysia From 1981 to 2019: Evidence From an Autoregressive Distributed Lag Approach2296-256510.3389/fpubh.2021.731554https://doaj.org/article/f902f47718d84925b3ec352c176cd4882021-11-01T00:00:00Zhttps://www.frontiersin.org/articles/10.3389/fpubh.2021.731554/fullhttps://doaj.org/toc/2296-2565This study investigates the impact of the ageing population on the economic growth for short- and long-run estimations in Malaysia, by using time series data from 1981 to 2019. This study adopts the autoregressive distributed lag (ARDL) method with the Bound test approach for the long-run estimation and the vector error correction model for the short-run estimation. Several econometric diagnostic tests were applied for validation and the appropriate model specification basis. The estimated result of this work indicates that the age dependency ratio proxy for the ageing population variable has a significant negative impact on economic growth in Malaysia. A 1% increase in old age dependency will decline gross domestic product's (GDP's) growth by an average of 6.6043% at the 5% level of significance. Hence, an increase in the ageing population will impede economic growth. Although controlled variables (e.g., physical capital, labour participation, and human capital) have a significant positive impact on economic growth in Malaysia, there is evidence of a long- and short-run relationship between economic growth and the ageing population variable, and also the control variable.Siti Nur Ain MohdAyunee Anis IshakDoris Padmini SelvaratnamFrontiers Media S.A.articleageing populationeconomic growthendogenous growth modelARDLMalaysiaPublic aspects of medicineRA1-1270ENFrontiers in Public Health, Vol 9 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	ageing population economic growth endogenous growth model ARDL Malaysia Public aspects of medicine RA1-1270
spellingShingle	ageing population economic growth endogenous growth model ARDL Malaysia Public aspects of medicine RA1-1270 Siti Nur Ain Mohd Ayunee Anis Ishak Doris Padmini Selvaratnam Ageing Population's Impact on Economic Growth in Malaysia From 1981 to 2019: Evidence From an Autoregressive Distributed Lag Approach
description	This study investigates the impact of the ageing population on the economic growth for short- and long-run estimations in Malaysia, by using time series data from 1981 to 2019. This study adopts the autoregressive distributed lag (ARDL) method with the Bound test approach for the long-run estimation and the vector error correction model for the short-run estimation. Several econometric diagnostic tests were applied for validation and the appropriate model specification basis. The estimated result of this work indicates that the age dependency ratio proxy for the ageing population variable has a significant negative impact on economic growth in Malaysia. A 1% increase in old age dependency will decline gross domestic product's (GDP's) growth by an average of 6.6043% at the 5% level of significance. Hence, an increase in the ageing population will impede economic growth. Although controlled variables (e.g., physical capital, labour participation, and human capital) have a significant positive impact on economic growth in Malaysia, there is evidence of a long- and short-run relationship between economic growth and the ageing population variable, and also the control variable.
format	article
author	Siti Nur Ain Mohd Ayunee Anis Ishak Doris Padmini Selvaratnam
author_facet	Siti Nur Ain Mohd Ayunee Anis Ishak Doris Padmini Selvaratnam
author_sort	Siti Nur Ain Mohd
title	Ageing Population's Impact on Economic Growth in Malaysia From 1981 to 2019: Evidence From an Autoregressive Distributed Lag Approach
title_short	Ageing Population's Impact on Economic Growth in Malaysia From 1981 to 2019: Evidence From an Autoregressive Distributed Lag Approach
title_full	Ageing Population's Impact on Economic Growth in Malaysia From 1981 to 2019: Evidence From an Autoregressive Distributed Lag Approach
title_fullStr	Ageing Population's Impact on Economic Growth in Malaysia From 1981 to 2019: Evidence From an Autoregressive Distributed Lag Approach
title_full_unstemmed	Ageing Population's Impact on Economic Growth in Malaysia From 1981 to 2019: Evidence From an Autoregressive Distributed Lag Approach
title_sort	ageing population's impact on economic growth in malaysia from 1981 to 2019: evidence from an autoregressive distributed lag approach
publisher	Frontiers Media S.A.
publishDate	2021
url	https://doaj.org/article/f902f47718d84925b3ec352c176cd488
work_keys_str_mv	AT sitinurainmohd ageingpopulationsimpactoneconomicgrowthinmalaysiafrom1981to2019evidencefromanautoregressivedistributedlagapproach AT ayuneeanisishak ageingpopulationsimpactoneconomicgrowthinmalaysiafrom1981to2019evidencefromanautoregressivedistributedlagapproach AT dorispadminiselvaratnam ageingpopulationsimpactoneconomicgrowthinmalaysiafrom1981to2019evidencefromanautoregressivedistributedlagapproach
_version_	1718406479262777344

Ageing Population's Impact on Economic Growth in Malaysia From 1981 to 2019: Evidence From an Autoregressive Distributed Lag Approach

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