Research On The Influence Of Population Aging On Resident Consumption

The aging of the population has attracted more and more people’s attention,and has become a general consensus of high social attention.Adapted to the current population structure,China’s consumption structure is also pursuing different degrees of optimization.In this paper,combined with an aging population and the residents’ consumption data,from a new perspective to study the effect of aging on the level of consumption,not only to further enrich the theory of consumption model application,at the same time can unearth elderly population consumption potential,alleviate the pressure of the faces of the elderly population in our country,enhance the overall level of consumption of the elderly and community residents.It is of great practical significance to expand domestic demand.Firstly,this paper analyzes the aging of population and the current situation of residents’ consumption,and finds that China’s population structure is facing the problem of fewer children and aging.The aging problem in all regions of the country is gradually aggravating and the consumption level of residents is increasing year by year.The aging degree of population is generally high in the eastern coastal areas,the southwest and the southern coastal areas,while the regions with higher consumption level mainly concentrate in the eastern coastal areas.Secondly,this paper analyzes the basic theories of population aging and residents’ consumption,which lays the theoretical foundation for the empirical analysis below.Finally,in this paper,by constructing dynamic panel system GMM model to carry on the empirical analysis,research conclusion: an ageing population a negative impact on consumer spending,positive impact on residents health care spending,on clothing consumption and living consumption,cultural and educational entertainment consumer spending and traffic communication consumer spending has a significant negative impact;Population aging has a negative impact on total consumption expenditure in Northeast China,while it has a positive impact on total consumption expenditure in South China and Great Southwest Economic Zone.The impact of population aging on household consumption is affected by the difference of economic growth.In a region with faster economic growth,the negative impact of population aging on residents’ total consumption expenditure,food consumption expenditure,clothing consumption expenditure,housing consumption expenditure and culture,education and entertainment consumption expenditure is smaller,while the positive impact on residents’ health care expenditure is greater.The proposed innovations of this paper are as follows: constructing a dynamic panel model to analyze the impact of population aging on residents’ total consumption and each sub-consumption expenditure;At the same time,we get rid of the traditional geographical division of east,central,west and northeast,and divide our country into eight comprehensive economic zones,so as to study the regional differences of the impact of population aging on residents’ consumption by more detailed geographical division.Finally,from the perspective of different levels of economic development,the impact of population aging on consumption is discussed.