Financial Assets Demand and Population Aging - Data from China

The population aging has become an important factor to the threat of global economic development; China is also under serious challenges of population aging. Divides the financial assets demand into the bank assets demand and non-bank assets demand, on the basis of China panel data during 1997-2012, uses system GMM dynamic panel method estimate the respectively relationship between population aging and financial assets demand. The conclusion shows that: The population aging can increase the bank assets demand and non-bank assets demand. In order to investigate the effects of population aging on economic growth, estimates the relationship between economic growth and financial assets demand, the results show that: the population aging will influence the economic growth by affecting financial assets demand; the population aging will give a negative effect on economic growth.