Nexus between Old Age Demographic Ratio and Economic Growth: An Empirical Analysis of Selected Developing Countries

The global population is ageing in all areas of the globe. First, ageing was an issue in developed countries but nowadays it is a burning research topic for developing countries. So, this study has taken selected ASIAN developing countries for investigation. This study probes the relationship between the old age demographic ratio on economic growth. Panel data has been taken for seven developing countries (India,Pakistan, China, Nepal, Bangladesh, Malaysia, and Sri Lanka) for the period 1990 to 2019 from World Development Indicators. The study uses the panel fixed effect technique for the analysis. The results of the study reveal that the old-age demographic ratio is statistically significant and has a negative impact on the economic growth of developing countries. The control variable inflation and life expectancy are statistically significant and carry a positive sign while carbon emission and remittance have a negative sign and are statistically insignificant.