Authors

• Nader Mehregan ¹
• Ruholah Rezaee ²

¹ Assistant professor, Hamedan university

² MA in Economics

Abstract

The world has experienced dramatic growth of population during 5 past years. Nowadays, demographic changes have been identified as one of key factors in development process. In this paper, the effect of age structure of population on economic growth has been examined. To do this, data on 171 countries has been used over period 1966-2004. The results indicate the significant effect of demographic variables on economic growth. Based on results, population growth , the ratio of people under 15 years old to whole population , dependency ratio of young people have negative effect and ratio of people 15-64 years old to whole population, ratio of people over 65 years old to whole population, dependency ratio of elderly people have positive impact on economic growth. The growth rates of different age groups have different effects on economic growth so that the growth rate of people years under 15 years old has the biggest effect and growth rate of active people (15-64 years old) has the smallest effect on economic growth. 
 

Keywords

• Economic Growth
• population
• age structure
• Panel Data