文章基本信息

标题：The Effect of Demographic Change on Financial Stability
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作者：Asma' Rashidah Idris ; Muzafar Shah Habibullah ; Ranjanee Kaliappan 等
期刊名称：Jurnal Intelek
印刷版ISSN：1675-9885
电子版ISSN：2231-7716
出版年度：2019
卷号：14
期号：2
页码：80-93
DOI：10.24191/ji.v14i2.222
出版社：Universiti Teknologi MARA
摘要：This study investigates the effect of fertility on financial stability and its determinant particularly therelevance of demographic changes. This is motivated by the huge impact of demographic changes(increasing ageing population and low fertility level). Population ageing and low fertility tend to lowerboth labour- force participation and saving rates (change bank business model), thereby raising concernson a future slowing economic growth and financial instability. The system GMM results show that thefertility level somehow acts as a buffer and reflects to the degree of stability to the financial system. Anincrease in fertility and old-age population will contribute to lowering the financial stability. As a matterof policy implication, the nations, financial sectors, and economies should take pro-active active stepsand enhance policies in handling the inter-related issue of the ageing population, decreasing fertility, andfinancial stability especially in developed countries, but not necessarily to overlook the impact of theissues in developing countries.
关键词：Demographic change; old-age population; fertility; financial stability