| Population ageing is a process in which the rate of elderly people to total population is rising. It is the change of age structure which shows the tendency and process of aging population growth in a region or a country. According to the international general rule, if the rate of the population with the age of60years old and over to total population is above10%or the rate of the population with the age of65years old and over to total population is above7%in a society, it will be called an aging society. Population ageing is the important and realistic problem to be confronted by human society in21century which has respect to social development such as economy, society, family life and personal life cycle etc. There is a population problem in every country, but the population problem exists in different forms in various regions and periods. Population ageing is an inevitable phenomenon during the population development, which has an intrinsic elationship with regional economic growth. Because production and consumption are important fields in regional economy, population ageing has influence on both production and consumption and necessarily has effects on economic development. Scientific development is oriented to people. Therefore, this paper has some significance in theory and practice.Population aging impacts the region’s epolitical, social, environmental, and especially the economic development which is the most fundamental aspact. Specifically, aging population’s impact on the region’s economic growth, income distribution, labor supply and demand, production, consumption, savings, investment and industrial structure determines the development of the regional society, politics and environment. Contained as subsystems in the sustainable development, sustainable population is the goal; sustainable economic is the fundamental; while sustainable social, resource and environmental is the process and means. Both developed and developing countries are facing economic problems, especially since the global financial crisis in2008. Economies in different regions of the world and all countries are paying more attention to sustainable economic development afterwards. Thus, impact study on population aging has important theoretical and practical significance on sustainable economic development, especially in regional economic development.In this paper, we studied existed association between aging and regional economic development in the "demographic dividend" period and its economic theory. Then we tried to apply econometric model which quantified this correlation effects to further define this correlation and to obtain an objective and comprehensive understanding of aging impact on regional economic development. Both the starting and the end point of the scientific outlook on development is the all-round development of people. Whether from the family or the government’s point of view, the elderly population is the vulnerable groups in the life cycle of the popular, with the least concern. The main characteristics of aging in china are large-scale, high speed, large regional differences, policy-driven, old before getting rich and so on. Chinese elderly population accounts for about20%of the world’s aging population. Combined with the potential impact of the dual economy, economic system transition, as well as a large number of parents of the only child has or will enter old age, it is of practical significance and far-reaching historical significance to overall solve the population problems including the aging of the population, and to strengthen the research on the relationship between aging and regional economic development.Aging effects on society, economy are mainly reflected in three aspects. Because of the endowment pressure caused by pension, impact on the economic system mainly reflected in reformation of insurance, tax, finance and medical system. Influence on the economic market includes:Immigration and fertility changes brought by the labor shortages; Ghanges in savings, consumption and new demand in nursing and elderly industry; Competition, training and technical innovation caused by the shrinking market. The impact on the economic and social environment changes mainly refers to the concept of aging.From the "demographic dividend" perspective, this paper used macroeconomic theory to analyse the impact of population ageing on regional economic development from two main paths, production and consumption. Extended economic growth models are adopted to analyse and evaluate the aging effects on the regional economic. Quantitative analysis and prediction research on aging affect to regional economic output, labor supply, savings, consumer, health care, pension costs, other expenses, and industrial structure was applied with econometric models. The main conclusions of the paper and relevant policy suggestions were put forward in the end.The first part is the introduction. The purpose and significance of the research was explained. Inadequacies in domestic and foreign research literaturefrom were found to establish the vision and innovation.The second part defined population, aging and related basic concepts. Basic theories were summed up and the development process of economic growth theory was recalled. The way the ageing of the population affects economic growth was analysed. Because of the strong relationship between population aging and regional economic development, this part explaned the mechanism and mode that the ageing of the population affects regional economic development in two angles, production and consumption, with the economic growth theory and the theory of national income,The third part is the economic growth model building economic effects assessment, based on the perspective of an aging population situation. This section put the aging factor into the neoclassical growth model through production and consumption to extend the model. After analyzed the dynamic effects of changes in proportion of elderly population and elderly population security expenditure on regional economic growth, it is found that the aging of the population has both positive and negative effects on regional economic development.The fourth part made quantitative analysis and forecast to the impact of population aging on regional economic development. After analyzed the aging status of China and Hubei Province, it is found that in the "demographic dividend" period, no matter in which geographic scale, there is a certain degree of positive correlation between the aging level and the development level of economic. Cointegration, Granger causality test, regression analysis, correlation analysis, time series analysis, error correction model and other econometric methods were applied to analyze and predict the impact of population aging on economic output, labor, savings, consumption, distribution of national income, pension and health care costs and other social security spending and industrial restructuring.The fifth part is the policy recommendations. My suggestions mainly include adjusting economic structure and strengthing the economy to lay a solid material foundation; improvement and innovation of endowment insurance and medical security system； exploring and improving the social pension financing and management mechanism and the establishment of early warning mechanism for elderly development; exploration of the asset source for pension.The sixth part is conclusion and outlook. Through this study, I believe population aging is an inevitable phenomenon, which has a broad and profound impact on the regional economic development. And its impact on the regional economic development will be more obviously in the long term. In essence, the aging of the population is not the ultimate decisive factor in economic development, but it does contribute a certain deceleration effect to economic development. In the process of regional economic development, we need to strive for coordinated and sustainable development of both economic and population. What’s more, a more comprehensive and accurate comprehensive analysis to aging population is needed for prolonged periods.The paper aims to find out the mechanism and mode of population ageing to regional economic growth, objectively evaluate the direct, indirect and total effects of population ageing, quantitatively analyze and forecast the effects of population ageing on economic output, labor, consumption, savings, allocation of national income, expenditure of pension and medical treatment as well as industry structure, put forward policy suggestions for regions and China to response to the challenges of population ageing to regional economic growth so that they can realize the welfare maximization of social security while minimizing the economic slowdown effect of population ageing.
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