Demography, Growth, and Robots in Advanced and Emerging Economies
Publication | November 2023
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This paper estimates the impact of demographic change on labor productivity growth. The analysis covers a panel of 90 advanced and emerging economies over 1961–2018 and produces three main findings.
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First, increases in the young and old population shares exert significantly negative effects on labor productivity growth, working via various channels. Second, population aging has a greater negative impact on emerging economies than on advanced economies. Third, automation reduces the negative effects of unfavorable demographic change—in particular, population aging.
Contents
- Introduction
- Literature Review
- Data and Empirical Methodology
- Full-Panel Fixed Effects and PVARX Estimations
- PVARX Estimations for Advanced and Emerging Economies
- The Role of Robots
- Conclusions
- Appendix
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