The Impact of Population Ageing on the Dynamics of Economic Growth in the EU Countries

In the context of modern demographic changes, the population ageing poses serious challenges to economic development. It becomes even more evident that the problem of an increasing population age is important and relevant for many developed countries, especially for EU members, who are largely influenced by this trend. It is projected that the proportion of people aged 65 and over in the EU will grow from 21.2% to 32.5% in 2023-2100. Thus, the purpose of this study is to assess the impact of population aging on the dynamics of economic growth in the EU countries. This will be done by quantitative analysis of economic growth using a fixed effects model based on panel data for the European Union (EU-27) countries for the period 1995-2019. In addition, the paper examines the effects of indicators closely related to aging.