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Macau Periodical Index (澳門期刊論文索引)
- Author
- Sun, Zhichao; Song, Yu
- Title
- The effect of demographic structure to China's investment-An dynamic analysis based on provincial panel data
- Journal Name
- 澳門科技大學學報
- Pub. Info
- Dec. 2016, Vol.10, No.2, pp. 40-49
- Link
- http://lib.must.edu.mo/sites/default/files/assets/images/Duu/must_journal_201602.pdf
- Keyword
- Dependency ratio； Investment； Dynamic panel
- Abstract
- Abstract : With dynamic provincial panel data in the period of 1990 to 2014, this paper studies the effect of demographic structure on China's investment in different econometric methods. The empirical results show that both young dependency ratio and old dependency ratio have caused China's increasing investment rate. Besides, China's investment has a strong inertia. The results are robust in different estimation methods. The paper forecasts that the high investment level will continue for a period of time and this situation will be gradually reversed with China's demographic structure changing process in the long run. Paragraph Headings: 1. Introduction 2. Literature review 3. Model specification and descriptive statistics of data 3.1. Model specification 3.2. Description statistics of data 4. Estimation methods and results 5. Conclusions Tables: 1. Definitions and descriptive statistics of variables 2. Dynamic panel estimation and robustness test Figures: 1. Trend chart of fixed asset investment rate and young dependency ratio 2. Trend chart of fixed asset investment rate and old dependency ratio 3. Scatter graph of fixed asset investment rate and old dependency ratio 4. Scatter graph of fixed asset investment rate and young dependency ratio