Research On The Impact Of Population Aging On People’s Livelihood Financial Expenditure In China

Population aging is an inevitable stage and irreversible trend of human social and economic development.Since the 21 st century,the process of population aging in my country has been accelerating,which has a significant impact on my country’s public financial expenditure.In turn,it directly affects the redistribution of national income and the sustainable development of the economy and society.People’s livelihood is a hot topic with the concept of Chinese characteristics.Education,medical care,social security and other expenditures are closely related to the daily life of ordinary people and constitute the basic content of people’s livelihood financial expenditure.The aging characteristics of the population structure in our society have an important impact on the total amount and structure of people’s livelihood financial expenditures.According to this perspective,this paper focuses on education,medical care,and social security,and studies the impact of population aging on the total supply and supply structure of financial expenditures for people’s livelihood.This paper believes that with the gradual improvement of the aging level of my country’s population,the total financial expenditure for people’s livelihood will increase,and the requirements for public goods in the fields of people’s livelihood such as social security and medical care will continue to increase,which will make the government increase social security,medical care-related people’s livelihood finance.At the same time,the increase of the elderly population will “crowd out” the public goods of education and people’s livelihood needed by children to a certain extent,which will make the government reduce the scale of relevant people’s livelihood financial expenditure and change the supply structure of people’s livelihood financial expenditure.This paper collects panel data of 31 provinces and cities in my country except Hong Kong,Macao and Taiwan from 2010 to 2020,and takes the proportion of government investment,population density,family size,and per capita GDP as control variables,and uses the system GMM two-step method to carry out the proposed hypothesis.empirical test.The empirical results show that the aging of my country’s population structure has a significant positive impact on the total financial expenditure for people’s livelihood,as well as the financial expenditure on health care and social security,and has a significant negative impact on the financial expenditure on education.In view of the impact of population aging on people’s livelihood financial expenditure in my country,this paper puts forward the corresponding research conclusions and puts forward the following policy suggestions: the government should use more national financial funds in the field of people’s livelihood to improve the level of social welfare;Subsidize and introduce more incentive measures to enrich human capital accumulation by reducing childcare costs and promoting birth rate;financial efforts should be used to support innovative social pension models to meet the diversified pension and medical needs of the elderly;tax policy support should be used to vigorously develop elderly labor resources,and encourage the elderly to participate in social activities;through government cooperation,it is necessary to help build a diversified market mechanism to meet the differentiated and high-end needs of the people’s livelihood.