Research On The Influence Of Population Aging On Financial Health Expenditure

In the course of economic development of human society,population aging is a necessary stage and irreversible trend.It is expected that during the "14th Five-Year Plan" period,the proportion of the aged population 60 and above in our country will exceed 20%,entering the stage of moderate aging.This deepening ageing of the population will lead to changes in the demand for health services,posing serious challenges to the sustainability of fiscal health expenditure.Based on the background of population aging and the increasing pressure of financial health expenditure in China,this paper firstly expounds the current research situation of the academic circle on population aging,financial health expenditure,and the impact of population aging on financial health expenditure,and introduces the relevant theoretical basis and concept definition.Secondly,it analyses the development status and hypothesis of Chinese population aging and financial health expenditure,and puts forward three hypotheses.Finally,by using the panel data of China by provinces from 2008 to 2020 and constructing the panel data econometric model,threshold effect model and intermediary effect model,this paper studies the specific impact of population aging on financial medical and health expenditure,and verifies the three hypotheses proposed in this paper.The results show that,firstly,the population aging and the level of financial health expenditure in China are on the rise,with an average annual growth rate of 2.794% and 17.554% respectively;Secondly,under different models,population aging has a significant positive impact on financial health expenditure,indicating that the deepening of population aging will promote the level of financial health expenditure;Third,compared with the low level of urban-rural income gap,under the high level of urban-rural income gap,the positive role of population aging in promoting fiscal and medical expenditure is more obvious;Fourth,the aging population will indirectly affect the level of financial and medical expenditure through the level of economic development,and the level of economic development will play a certain masking effect in it.The research results enlighten the government to apply more national financial funds to people’s livelihood,and at the same time,to support the innovative development of social pension and medical model by increasing financial input to cope with the deepening aging level.