The Population Age Structure And Stock Price

The aging population is a big problem for national governments, especially in our country, demographic window dividend gradually closed, changes in the population age structure have an impact on investment, savings, productivity and other variables, these variables have close links with the stock market. Therefore, it has important practical significance for researching the effects of changes in the population age structure on stock price.Firstly, on the basis of existing research,this article combed the population age structure of the transmission mechanism of stock price and deduced the simple two times population iteration model, we could deduce that population age structure will affect the stock price.Secondly, this paper examines the effects of changes in the population age structure on stock price based on 46 countries panel date over 1994-2014 periods. The empirical results show that:the shares of working age population has combined positive effect on stock price. Then, this paper examines the effects of changes in the population age structure on stock price with the change of time and effects of changes in the population age structure on stock price based on developed countries panel date and developing countries panel date. The empirical results show that:in 2008-2014, the negative effect of age structure on stock price weakened. And in developing countries, the shares of working age has significant positive effect on stock price.Finally, Based on the conclusions of this paper, the population age structure change will have certain explanatory power for stock price changes. The Chinese government should take certain measures to curb China’s future population aging inhibition effect of a rising stock market for the future.