Study On The Change Of Chinese Population Age Structure And Its Effect On The Conversion Efficiency Of Saving-investment

Since 2000 China has entered the aging period,the aging population continues to accelerate,but the population of children has experienced cliff reduction,population growth rate continued to decline,the proportion of social support increased significantly,the demographic dividend continued to shrink.At the same time,the economy began to transfer to the new norm,economic growth rate hovering around 7.5%,decreasing returns to capital started,long-term dependence on high saving,high investment and other inputs to stimulate economic growth will not be sustainable,in future the government should focus on improving the allocative efficiency,improving the quality of development.In this paper,the macro economic downturn,capital growth,population ageing,dependency ratio of children continue to reduce the background,explore the impact of changes of population age structure on the savings investment conversion efficiency and its transmission mechanism,is of great practical significance.This paper based on the demographic dividend theory,life cycle theory,theory of AC generation stack model and Solow growth model,and summarized the results of previous studies on the effects of population age structure to savings and investment and other issues,and then according to this,explored Chinese population age structure affect the efficiency of conversion from saving to investment problem.This paper analyzes the current situation and problems of Chinese population age structure and the transformation of savings-investment,and expounds the transmission path and mechanism of the effect.Then,select the relevant data of Chinese population structure and savings-investments during 1991-2015,create one panel data model,verify the mechanism of the influence.Firstly condunct the unit root test and cointegration test of variables,and then determine the type of variable intercept fixed model model by F test and Hausman test,then the variable data on the national,Eastern and western regions respectively for GLS estimation,analysis of the empirical results,explain the differences between the regions of.The conclusion is drawn.Finally,take conclusion through the thetheoretical and Empirical analysis: the elderly population increasing would lower the savings into investment efficiency in each stage;the young population drop has impositive impact on savings into investment in two stages which is not significant;the East,central and western regions due to different people in different agestructure,economic development the degree of financial market development,different levels,different financial concepts,the effect of age structure of population on economic efficiency in the performance of a larger difference in per capita output;and the second industry output of the contribution rate,government spending accounted for three of the savings into investment in various stages of the influence of different regions.It is showed significant differences.Put forward some policy suggestions: implement the "comprehensive two children" policy,improve the relevant supporting measures;gradient delay retirement,fully tap the "second demographic dividend";improve the financial security system,deepen the reform of medical education to promote the labor pension;moderate flow,increase investment in human capital;to optimize the environment of construction savings investment in transformation.