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Liburkina L. M.

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The Population Aging in the European Union: Features and Socioeconomic Consequences
Shuba M. V., Frolova V. R.

Shuba, Maryna V., and Frolova, Vladyslava R. (2022) “The Population Aging in the European Union: Features and Socioeconomic Consequences.” Business Inform 7:11–17.
https://doi.org/10.32983/2222-4459-2022-7-11-17

Section: Foreign Experience

Article is written in Ukrainian
Downloads/views: 7

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UDC 314:339

Abstract:
The article is aimed at determining the characteristics and socioeconomic consequences of the population aging for the countries of the European Union. The article presents the proportion of the population over 65 years of age of the total population of the EU for the period 2011-2021, identifies the EU countries with the largest and smallest proportion of the elderly population in the total population, as well as changes in this indicator in 2021 compared to 2011. It is determined that the main reasons for the increase in the relative proportion of older people in the EU are an increase in life expectancy and a consistently low birth rate over the years. The data as to life expectancy at birth along with the dynamics of birth rate in the EU are provided. The coefficient of demographic load of the elderly population in the EU is considered. The correlation coefficient between the elderly population and GDP, as well as between the elderly population and household consumer spending, is computed. The result indicates a close relationship between these indicators. Among the main socioeconomic consequences of the population aging are the reduction of supply in the labor market, the impact on the rate of economic growth, changes in the amount of savings in the financial system, the budget deficit of pension systems, the growing burden on the bodies of health care system, etc. Three options for the influence of the EU Member States on the current situation are given: encourage marriages or cohabitation and the birth of children; carry out additional activities to attract immigrants of working age; develop new social policy measures aimed at mitigating the negative effects of the population aging. One of the main instruments to overcome the negative consequences of the aging process of the population be the effective realization of the resource potential of the older generation. Measures to increase the size of the workforce, such as lifelong learning and employment policies for the elderly, are also defined as important.

Keywords: population aging, European Union, demographic load, birth rate, life expectancy.

Fig.: 6. Bibl.: 12.

Shuba Maryna V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of International Economic Relations named after Artur Golikov, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Frolova Vladyslava R. – Student, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

List of references in article

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