{"title":"Aging of population, digital financial inclusion, and public education expenditure","authors":"Huilin Wang, Jiliang Liu","doi":"10.1016/j.frl.2024.106652","DOIUrl":null,"url":null,"abstract":"Based on panel data from 2011 to 2022, this paper explores the correlation between the aging of population and public education expenditure. The baseline regression indicates that the intensification of the aging population suppresses the intensity of public education expenditure. Mechanism analysis confirms that digital inclusive finance and urbanization can mitigate this suppressive effect. Additionally, heterogeneity analysis reveals that differences in social consumption levels and geographical locations lead to variations in the suppressive effect of the aging population.","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"293 1","pages":""},"PeriodicalIF":7.4000,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1016/j.frl.2024.106652","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
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Abstract
Based on panel data from 2011 to 2022, this paper explores the correlation between the aging of population and public education expenditure. The baseline regression indicates that the intensification of the aging population suppresses the intensity of public education expenditure. Mechanism analysis confirms that digital inclusive finance and urbanization can mitigate this suppressive effect. Additionally, heterogeneity analysis reveals that differences in social consumption levels and geographical locations lead to variations in the suppressive effect of the aging population.
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