The Effect of Aging Population on Pension Expenditures: A Country Comparative Econometric Analysis

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Zuhal Ayhan


Pension Expenditures, Working Age Population, Elderly Population, Per Capita Income, Panel Data Analysis


This study aims to reveal the differences in the variables affecting the pension expenditures of selected countries and to determine the variables that cause this difference according to the level of development of the countries. In the study, a panel data set was created by using the World Bank and OECD database as a source and the pension expenditures, working age population, elderly population and per capita income values of the selected countries and econometric analysis was performed. According to the results of the study, it was seen that the independent variables affecting the pension expenditures of South Korea have a positive effect on the working age population and the elderly population, while the per capita income variable has a negative effect. Turkey does not have any independent variable affecting pension expenditures. In the United Kingdom, only the working age population variable has a positive effect on pension expenditures.

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