Research On The Impact Of Aging And Savings On Economic Growth In Gansu Province

Since the reform and opening up,China has achieved rapid development in terms of economic volume and quality,relying on unlimited labor supply and high investment brought about by high savings.However,the gradual disappearance of the "demographic dividend" and the emergence of the "savings malpractice theory" have caused people’s concern about the lack of impetus for economic growth and the decline of economic growth.Gansu Province is located in the northwest of China,with relatively lagging economic development.Although it entered the aging process relatively late,it has the characteristics of rapid aging development,uneven regional development,and aging before getting rich.This dissertation mainly analyzes the impact of aging and savings on economic growth in Gansu Province.In the theoretical part,based on a large amount of literature,the mechanism of the effects of aging and savings on economic growth in Gansu Province was sorted out;In the empirical part,the panel data of 14 cities in Gansu Province from 2009 to2020 are used for analysis.The main conclusions are as follows: firstly,aging is not conducive to economic growth,while increasing savings is beneficial for economic growth.In regions with higher levels of economic development,the negative impact of aging on economic growth is smaller,while the positive impact of savings on economic growth is greater.Secondly,there is a threshold effect in the process of aging and savings affecting economic growth.After savings cross the threshold,the inhibitory effect of aging on economic growth decreases;After the aging population crosses the threshold,the promoting effect of savings on economic growth also decreases.Thirdly,both aging and savings have a positive impact on industrial structure and a negative impact on economic growth.Fourth,aging is detrimental to economic growth by inhibiting the accumulation of human capital accumulation,and the effect of savings on human capital is not significant.Finally,a comprehensive analysis of the conclusions obtained and relevant suggestions are proposed,namely,to appropriately increase the level of savings and create capital advantages;Improve population policies and social security systems,and actively respond to the aging population;Transforming the economic growth model and driving industrial structure optimization through technological innovation;Increase investment in human capital,transform the advantage of population quantity into a quality advantage,and make up for the problem of insufficient labor force.