经济理论与经济管理 ›› 2022, Vol. 42 ›› Issue (8): 49-60.

• • 上一篇    下一篇

经济发展、老龄化与政府债务累积的加速效应*

  

  1. 1  香港科技大学商学院经济系;   2  浙江大学公共管理学院;   3  中国财政科学研究院。
  • 出版日期:2022-08-16 发布日期:2022-09-05

ECONOMIC DEVELOPMENT,AGING AND THE ACCELERATION EFFECT OF GOVERNMENT DEBT ACCUMULATION

  1. 1Department of Economics,Hong Kong University of Science and Technology;
    2School of Public Affairs,Zhejiang University;
    3Chinese Academy of Fiscal Sciences
  • Online:2022-08-16 Published:2022-09-05

摘要: 本文基于世界63个经济体1996—2016年的面板数据,运用静态、动态门槛回归模型研究了老龄化对政府债务规模的加速效应。研究表明,从长期来看,老龄化不仅能对政府债务产生显著的正向冲击,而且对于相对发达的经济体而言,老龄化对政府债务累积的影响更大。文章政策含义是,为了减缓加速效应,一方面我们需要通过提高全要素生产率、优化税收结构、完善国有资本划转等方式保持政府收入稳健增长,另一方面需要打破养老支出刚性,使其增长幅度与经济增速和政府收入增速相匹配。

关键词: 政府债务规模, 经济发展, 老龄化, 加速效应

Abstract: Based on the panel data of 63 economies in the world from 1996 to 2016,this paper uses the static and dynamic threshold regression models to study the accelerating effect of aging on the scale of government debtStudies have shown that in the long run,aging can not only have a significant and positive impact on government debt,but for relatively more developed economies,aging has a greater impact on government debt accumulationThe policy implication of this paper is that in order to mitigate the acceleration effect,on the one hand,it is necessary to maintain steady growth of the government revenue by improving the total factor productivity,optimizing the tax structure,and improving the transfer of stateowned capital;on the other hand,it is also advised to break the rigidity of pension expenditure and match its growth rate with economic growth and government revenue growth

Key words: government debt scale, economic development, aging, acceleration effect