Demographics and Interest Rates in Asia
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Summary:
Demographic developments have been regarded as one important cause of the long-term movement in global interest rates. This paper provides empirical evidence of the relationship between demographics and interest rates over a wide sample of advanced and emerging market economies. It also finds that capital account openness limits the direct sensitivity of a country’s interest rates to its own demographics. The results suggest that future demographic developments will continue to apply downward pressure on the interest rates in Asia which foresees a rapid aging.
Series:
Working Paper No. 2018/172
Subject:
Aging Demographic change Financial services Long term interest rates Population and demographics Population growth Real interest rates
English
Publication Date:
July 27, 2018
ISBN/ISSN:
9781484370308/1018-5941
Stock No:
WPIEA2018172
Pages:
23
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