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Demographics and Interest Rates in Asia
Mr.Serkan ArslanalpMr.Jaewoo LeeUmang Rawat
出版International Monetary Fund, 2018-07-27
主題Social Science / DemographyBusiness & Economics / Banks & Banking
ISBN148437164X9781484371640
URLhttp://books.google.com.hk/books?id=N-YdEAAAQBAJ&hl=&source=gbs_api
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註釋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.