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Government Expenditure Composition and Long-Run Economic Growth in the Aging Democracy
http://hdl.handle.net/2237/0002012176
http://hdl.handle.net/2237/00020121761ce82900-9567-4bcc-981f-7d999436760d
| Name / File | License | Actions |
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E25-1.pdf (1.5 MB)
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| Item type | itemtype_ver1(1) | |||||||||
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| PubDate | 2025-03-10 | |||||||||
| Title | ||||||||||
| Title | Government Expenditure Composition and Long-Run Economic Growth in the Aging Democracy | |||||||||
| Language | en | |||||||||
| Creator |
Tamai, Toshiki
× Tamai, Toshiki
× Wang, Yaqi
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| Access Right | ||||||||||
| Access Rights | open access | |||||||||
| Access Rights URI | http://purl.org/coar/access_right/c_abf2 | |||||||||
| Keyword | ||||||||||
| Subject Scheme | Other | |||||||||
| Subject | Democracy | |||||||||
| Keyword | ||||||||||
| Subject Scheme | Other | |||||||||
| Subject | Economic growth | |||||||||
| Keyword | ||||||||||
| Subject Scheme | Other | |||||||||
| Subject | Expenditure composition | |||||||||
| Keyword | ||||||||||
| Subject Scheme | Other | |||||||||
| Subject | Public investment | |||||||||
| Keyword | ||||||||||
| Subject Scheme | Other | |||||||||
| Subject | Welfare expenditure | |||||||||
| Description | ||||||||||
| Description Type | Abstract | |||||||||
| Description | This paper analyzes how population aging affects government expenditure composition, economic growth, and social welfare under democracy using an overlapping generations model. As public investment and welfare expenditures are financed by income tax, intergenerational conflicts remain in the aged societies. Retired generations, comprising elderly citizens, favor increased income tax rates through increased current welfare expenditures relative to public investment. Working generations, comprising young citizens, favor increased public investment but not increased income tax. Population aging strengthens elderly citizens’ political power, leading to increased taxes and budgets shifting from public investment to current welfare. Hence, population aging deteriorates economic growth and social welfare through democracies. On the other hand, population aging by an increase in longevity enhances capital accumulation by increasing savings for old-age consumption. Furthermore, an increase in longevity also brings survival benefits for young and old generations, allowing them to enjoy their retired lives and returns on public investment. Population aging brings positive direct effects on growth and welfare. Finally, we numerically find an inverted-U-shaped relationship between population aging and growth and welfare because the direct and indirect effects of population aging coexist. | |||||||||
| Language | en | |||||||||
| Publisher | ||||||||||
| Publisher | 名古屋大学大学院経済学研究科附属国際経済政策研究センター | |||||||||
| Language | ja | |||||||||
| Publisher | ||||||||||
| Publisher | Economic Research Center Graduate School of Economics Nagoya University | |||||||||
| Language | en | |||||||||
| Language | ||||||||||
| Language | eng | |||||||||
| Resource Type | ||||||||||
| Type Resource | http://purl.org/coar/resource_type/c_6501 | |||||||||
| Type | departmental bulletin paper | |||||||||
| Article Version | ||||||||||
| Version Type | VoR | |||||||||
| Version Type Resource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||||||
| Fund Info | ||||||||||
| Funder Identifier Type | Crossref Funder | |||||||||
| Funder Identifier | https://doi.org/10.13039/501100001691 | |||||||||
| Funder Name | 日本学術振興会 | |||||||||
| Language | ja | |||||||||
| Funder Name | Japan Society for the Promotion of Science | |||||||||
| Language | en | |||||||||
| Award Number URI | https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-18H00865/ | |||||||||
| Award Number | 18H00865 | |||||||||
| Award Title | 人口減少社会における世代間の自助・共助に関する研究 | |||||||||
| Language | ja | |||||||||
| Fund Info | ||||||||||
| Funder Identifier Type | Crossref Funder | |||||||||
| Funder Identifier | https://doi.org/10.13039/501100001691 | |||||||||
| Funder Name | 日本学術振興会 | |||||||||
| Language | ja | |||||||||
| Funder Name | Japan Society for the Promotion of Science | |||||||||
| Language | en | |||||||||
| Award Number URI | https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-20H01492/ | |||||||||
| Award Number | 20H01492 | |||||||||
| Award Title | インフラ整備・制度設計とグローバル経済のダイナミクス | |||||||||
| Language | ja | |||||||||
| Fund Info | ||||||||||
| Funder Identifier Type | Crossref Funder | |||||||||
| Funder Identifier | https://doi.org/10.13039/501100001691 | |||||||||
| Funder Name | 日本学術振興会 | |||||||||
| Language | ja | |||||||||
| Funder Name | Japan Society for the Promotion of Science | |||||||||
| Language | en | |||||||||
| Award Number URI | https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-23K22112/ | |||||||||
| Award Number | 22H00841 | |||||||||
| Award Title | 人口減少社会における社会資本整備に関する最適政策 | |||||||||
| Language | ja | |||||||||
| Fund Info | ||||||||||
| Funder Identifier Type | Crossref Funder | |||||||||
| Funder Identifier | https://doi.org/10.13039/501100001691 | |||||||||
| Funder Name | 日本学術振興会 | |||||||||
| Language | ja | |||||||||
| Funder Name | Japan Society for the Promotion of Science | |||||||||
| Language | en | |||||||||
| Award Number URI | https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-23K22112/ | |||||||||
| Award Number | 23K22112 | |||||||||
| Award Title | 人口減少社会における社会資本整備に関する最適政策 | |||||||||
| Language | ja | |||||||||
| Bibliographic Info |
en : Economic Research Center Discussion Paper E-Series Issue Number E25-1, p. 1-52, Issue Date 2025-02 |
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