Research Papers - Dept of Information of Management

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Author: search.filters.author.Nimnadi, TSubject: search.filters.subject.Elderly population

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    PublicationOpen Access
    Ageing affecting the Americas?: exploring the growth direction: the relationship between the elderly population and economic growth in the American context
    (Springer Nature, 2025-02-13) Jayawardhana, T.; Jayathilaka, R; Karadanaarachchi, R.; Nimnadi, T; Anuththara, S
    The main aim of this study is to explore the relationship between the elderly population and economic growth in 25 North and South American countries use annual secondary data from 1961 to 2021. Instead of focusing on the conditional mean, this study tests for Granger causality in the entire conditional distribution of the elderly population and economic growth through wavelet coherence analysis. The study fndings indicated a unidirectional Granger causality running from per capita gross domestic product (GDP) to the elderly population for Bolivia, Colombia, Guyana, Peru and Puerto Rico and also from elderly population to per capita GDP for Costa Rica, Ecuador and Honduras. However, there is no causal relationship between the elderly population and economic growth for the rest of the countries. Wavelet coherence analysis depicted that economic growth positively led the elderly population in North America during the early 21st century. Furthermore, economic growth had been negatively leading the elderly population in South America throughout the period under consideration. This empirical study shows that policymakers of these economies need to analyse the transformation in the elderly population-economic growth causality robustness throughout the year when devising policies
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    PublicationOpen Access
    Exploring the Dynamics of the Elderly Population and Economic Growth: A Comparative Analysis Across Continents
    (Springer, 2024-05-30) Jayawardhana, T; Jayathilaka, R; Anuththara, S; Nimnadi, T; Karadanaarachchi, R; Galappaththi, K
    This paper explores the cause-and-effect relationship between the elderly population and global economic growth, focusing on different continents. A panel dataset spanning from 1961 to 2020 is utilized, with Gross Domestic Product (GDP) serving as the key measure for economic growth, represented as the percentage change in annual GDP. The study specifically centers on individuals aged 65 and above as a percentage of the total population. The analysis employs a Panel Granger causality test to assess the impact of the elderly population on economic growth. The results reveal a unidirectional Granger causality for Africa and Oceania, suggesting a one-way influence from the elderly population to economic growth. Conversely, instances of bidirectional Granger causality are identified for Asia, Europe, North America, and South America, indicating a mutual influence between the elderly population and economic growth during the study period. The study concludes that an endogenous relationship between economic growth and the elderly population emerges, but notably, this relationship becomes apparent only after an economy has completed its transition in economic development. This implies that the dynamics of the elderly population and economic growth are interlinked, with the nature of their interaction becoming more pronounced in the later stages of economic development.