The Impact Of Population Aging On Household Savings

Aging is an issue of international concern.In 1998,at International launched Day of Older Persons,the seventh United Nations Secretary-General Kofi Annan had said:"We are undergoing a quiet revolution,it is far beyond demography range,putting a significant impact to the economic,social,cultural,psychological and spiritual,"population aging is a natural result of demographic development and the inevitable trend of global population growth.There is a more serious aging population problem in most developed countries such as the United States,Japan and so on.Since 2000,the proportion of over 65 years of aging population reached 7%,our country entered the aging society and the aging trend progressing rapidly.Compared year 2015 with 2010,according to the National Bureau of Statistics data,for just six years,the number of the aged population increased by 25 million and the growth rate was 21%.Although our country is still in early stage of aging,but China's "old before getting rich","not prepared to old" and other special conditions make the aging problem is still grim.Changes in population age structure will inevitably bring some impact to the economy and society,which is closely related to residents is the residents of savings.Household savings is an important part of national savings,in today's increasingly developed economy,the proportion of China's household savings in the national savings accounts grows more and more high,the household savings will play an unprecedented role in the economy.Household savings is not only an important factor to the standard of living,but also an important variables deciding invest and consumption,high savings provide financial support for high investment,China's rapid economic growth is largely dependent on the healthy balance between high savings and high investment,once the benign equilibrium is broken,the consequences will be very serious.Domestic and foreign scholars have done a lot to find the relationship between the two,but did not reach a unified opinion,there are both positive effect relationship and negative effect relationship exist.The impact of the China's aging population put on household savings has a very important significance,so the aging deserve serious attention and analysis.But for the aging process has only just begun,still in its infancy,and the scale of the household savings of our country still remained at a high level,the current influence of aging to household savings is not very clear.From the theoretical and practical point of view,according to the latest statistics released by the national Bureau of statistics,using the econometric methods,this article launched a comprehensive analysis for the impact of population aging to household savings,in order to provide theoretical guidance to China's current implementation of household consumption and economic growth mode policy for accelerating the transformation,and then promote our country sustainable development of economic and social.This paper is divided into five parts.The first part is an introduction,including the background?significance of the thesis?literature review at home and abroad and innovation as well shortcomings.The second part introduces the current situation of China's population aging and household savings,and analyzes the future development trend of China's aging and the impact of household savings on economic development.The third part introduces the specific impact mechanism of the aging put on residents 'savings,and analyzes in detail the specific role of different saving motives to the residents' savings.The fourth part first introduces the selection of variables and model setting,followed by the empirical test of national and regional,and finally get empirical results and do some necessary analysis.In the fifth part,the author puts forward a series of policy recommendations for our country in the light of Japan's experience in dealing with aging.In this paper,we can draw a conclusion from the quantitative analysis of national and different degree of economic development regions.At present,there is a positive correlation between the dependency ratio,per capita GDP,GDP growth rate,social security expenditure and household savings.And the children dependency ratio and consumer price index have a significant negative correlation with household savings.China's current economic development is still in the departure,the demographic dividend has not completely disappeared,sustained economic development brings sustainable income growth,income growth leads to a certain extent of savings increase,shortly high savings status will continue to maintain.Although there is a positive relationship between the impact of population aging on household savings,but with the advance of the aging process,elderly population bring increasing pressure to economic and social support capabilities,the aging problem is still serious.According to the analysis of the aging and household savings affecting factors and learn from measures the Japanese cope with the problem of aging,the paper puts forward several measures to deal with the aging population's impact on the residents.It includes perfecting the old-age service system,reducing the precautionary saving scale,improving the age structure of the population,alleviating the aging pressure on the savings,speeding up the consumption level,changing the mode of economic growth,appropriately extending the working life,improving the income level of the aging,narrowing the regional income gap and promoting regional coordinated development to ensure China's economic health,efficient and sustainable development.