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Economy and elderly population, complementary or contradictory: A cross-continental wavelet coherence and cross-country Granger causality study

The aim of this study is to explore the causal relationship between the economy and the elderly population globally as well as continent-wise. This research was designed as a continent-wide study to investigate the differences between several regions simultaneously. The economy was measured by the G...

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Autores principales: Galappaththi, Kethaka, Jayathilaka, Ruwan, Rajamanthri, Lochana, Jayawardhana, Thaveesha, Anuththara, Sachini, Nimnadi, Thamasha, Karadanaarachchi, Ridhmi
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Public Library of Science 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9879505/
https://www.ncbi.nlm.nih.gov/pubmed/36701291
http://dx.doi.org/10.1371/journal.pone.0278716
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author Galappaththi, Kethaka
Jayathilaka, Ruwan
Rajamanthri, Lochana
Jayawardhana, Thaveesha
Anuththara, Sachini
Nimnadi, Thamasha
Karadanaarachchi, Ridhmi
author_facet Galappaththi, Kethaka
Jayathilaka, Ruwan
Rajamanthri, Lochana
Jayawardhana, Thaveesha
Anuththara, Sachini
Nimnadi, Thamasha
Karadanaarachchi, Ridhmi
author_sort Galappaththi, Kethaka
collection PubMed
description The aim of this study is to explore the causal relationship between the economy and the elderly population globally as well as continent-wise. This research was designed as a continent-wide study to investigate the differences between several regions simultaneously. The economy was measured by the Gross Domestic Product (GDP) per capita growth rate while the population aged above 65 as a percentage of the total was considered the elderly population. A panel dataset published by the World Bank for a period of six decades from 1961 to 2020 covering 84 countries was used as data for the analysis. Wavelet coherence was the methodology used for the study since it was considered suitable to present causality as well as the causal direction between the two variables for different sections during the six decades. Thereafter, Granger causality was applied for a cross-country analysis to gain further insights on the causality of individual countries over the years. Findings of the study reveal that the causality and its direction have been changing over time for most continents. Negative correlations with the leading variable interchanging with time are evident for the majority of the regions. Nevertheless, results indicate that in a global perspective, elderly population predominantly leads the economic growth with a positive correlation. Research approach allows ascertaining the short-term and medium-term changes that occurred concerning the direction of the relationship throughout the stipulated period of the study, which could not be drawn by any previous study. Even though region-wise literature is available on this topic, global studies for decades have not been conducted yet.
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spelling pubmed-98795052023-01-27 Economy and elderly population, complementary or contradictory: A cross-continental wavelet coherence and cross-country Granger causality study Galappaththi, Kethaka Jayathilaka, Ruwan Rajamanthri, Lochana Jayawardhana, Thaveesha Anuththara, Sachini Nimnadi, Thamasha Karadanaarachchi, Ridhmi PLoS One Research Article The aim of this study is to explore the causal relationship between the economy and the elderly population globally as well as continent-wise. This research was designed as a continent-wide study to investigate the differences between several regions simultaneously. The economy was measured by the Gross Domestic Product (GDP) per capita growth rate while the population aged above 65 as a percentage of the total was considered the elderly population. A panel dataset published by the World Bank for a period of six decades from 1961 to 2020 covering 84 countries was used as data for the analysis. Wavelet coherence was the methodology used for the study since it was considered suitable to present causality as well as the causal direction between the two variables for different sections during the six decades. Thereafter, Granger causality was applied for a cross-country analysis to gain further insights on the causality of individual countries over the years. Findings of the study reveal that the causality and its direction have been changing over time for most continents. Negative correlations with the leading variable interchanging with time are evident for the majority of the regions. Nevertheless, results indicate that in a global perspective, elderly population predominantly leads the economic growth with a positive correlation. Research approach allows ascertaining the short-term and medium-term changes that occurred concerning the direction of the relationship throughout the stipulated period of the study, which could not be drawn by any previous study. Even though region-wise literature is available on this topic, global studies for decades have not been conducted yet. Public Library of Science 2023-01-26 /pmc/articles/PMC9879505/ /pubmed/36701291 http://dx.doi.org/10.1371/journal.pone.0278716 Text en © 2023 Galappaththi et al https://creativecommons.org/licenses/by/4.0/This is an open access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
spellingShingle Research Article
Galappaththi, Kethaka
Jayathilaka, Ruwan
Rajamanthri, Lochana
Jayawardhana, Thaveesha
Anuththara, Sachini
Nimnadi, Thamasha
Karadanaarachchi, Ridhmi
Economy and elderly population, complementary or contradictory: A cross-continental wavelet coherence and cross-country Granger causality study
title Economy and elderly population, complementary or contradictory: A cross-continental wavelet coherence and cross-country Granger causality study
title_full Economy and elderly population, complementary or contradictory: A cross-continental wavelet coherence and cross-country Granger causality study
title_fullStr Economy and elderly population, complementary or contradictory: A cross-continental wavelet coherence and cross-country Granger causality study
title_full_unstemmed Economy and elderly population, complementary or contradictory: A cross-continental wavelet coherence and cross-country Granger causality study
title_short Economy and elderly population, complementary or contradictory: A cross-continental wavelet coherence and cross-country Granger causality study
title_sort economy and elderly population, complementary or contradictory: a cross-continental wavelet coherence and cross-country granger causality study
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9879505/
https://www.ncbi.nlm.nih.gov/pubmed/36701291
http://dx.doi.org/10.1371/journal.pone.0278716
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