Economics And Business Of Aging
Economics And Business Of Aging
Contributor(s): Ivana Barković Bojanić (Editor), Aleksandar Erceg (Editor)
Subject(s): Economy, Labor relations, Welfare systems, Politics and society, Social Theory, Family and social welfare, Demography and human biology, Gerontology, Welfare services, Sociology of Politics
Published by: Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku
Keywords: Older Generations; Aging; Population; Europe; Social Welfare System; Demography; Retirement; Third Age; Grandchildren; Healthy Aging; Elderly People;
Summary/Abstract: The aging population is an inevitable global trend with significant economic and societal impacts. As people live longer, the traditional life stages of education, work, and retirement are redefined. This aging process places macroeconomic pressures on both the economy and society. However, with technological advancements and supportive business and public policies acknowledging this demographic shift, aging can present opportunities rather than merely challenges. Understanding the aging process, its consequences, and the needs of older adults is crucial for economic and societal well-being. Age is a complex concept that includes chronological, biological, and other dimensions, all of which significantly influence the behavior of older individuals. Therefore, it is essential to deepen our understanding of population aging from various scientific perspectives and to develop innovative solutions and robust institutional support to create an economy and society that effectively integrates older individuals. The edited volume “Economics and Business of Aging” addresses research on demographic challenges, focusing on various aspects of population aging. With contributions from diverse authors and different scientific fields, the book provides a comprehensive view of aging, covering economic, medical, and health-related aspects. This wide array of research offers readers valuable insights into the numerous challenges and implications of aging. Although the book primarily aims at the academic community, its findings are also relevant to a broader audience. Managers and administrators can use these insights to improve work organization, manage an aging workforce, develop products and services for older consumers, and help public decision-makers enhance policies for the older population. We extend our gratitude to all the contributing authors and hope that their research will contribute to building a more age-friendly economy and society.
- E-ISBN-13: 978-953-253-213-5
- Print-ISBN-13: 978-953-253-213-5
- Print-ISBN-10: 978-953-253-2
- Page Count: 272
- Publication Year: 2024
- Language: English
WORDS MATTER: BREAKING DOWN TERMINOLOGY FOR OLDER GENERATIONS
WORDS MATTER: BREAKING DOWN TERMINOLOGY FOR OLDER GENERATIONS
(WORDS MATTER: BREAKING DOWN TERMINOLOGY FOR OLDER GENERATIONS)
- Author(s):Ljerka Sedlan Kőnig
- Language:English
- Subject(s):Semantics, Sociolinguistics, Gerontology, Phraseology, Stylistics
- Page Range:15-27
- No. of Pages:13
- Keywords:ageism; terminology; aging population; semantic awareness;
- Summary/Abstract:The terminology used to describe and refer to citizens aged 60 or 65 and older has been a subject of evolving discourse in literature. A comprehensive literature review reveals a shift away from traditional terms such as “senior citizens” or “elderly” which are often perceived as outdated and laden with negative connotations. The literature underscores the significance of language sensitivity in fostering inclusive and age-friendly societies, recognizing the diverse experiences and capabilities of older citizens. Researchers highlight the importance of adopting language that promotes positive and respectful attitudes toward older individuals. Commonly endorsed alternatives include “older adults” and “seniors”, emphasizing a focus on the individual’s stage of life rather than defining them solely by age. In conclusion, the literature converges on the consensus that respectful, person-centered language is pivotal in shaping public perceptions of aging and fostering a more inclusive and age-positive societal discourse.
AGING OF THE POPULATION IN EUROPE AND CROATIA AND ITS CONSEQUENCES
AGING OF THE POPULATION IN EUROPE AND CROATIA AND ITS CONSEQUENCES
(AGING OF THE POPULATION IN EUROPE AND CROATIA AND ITS CONSEQUENCES)
- Author(s):Antoaneta Klobučar
- Language:English
- Subject(s):Health and medicine and law, Demography and human biology, Gerontology
- Page Range:29-38
- No. of Pages:10
- Keywords:Population aging; depopulation; population aging statistics;
- Summary/Abstract:In the paper, statistics on the aging of the EU population are observed first on the total number of inhabitants and then on individual countries that stand out with either the smallest or the most significant percentage of the old population. Data for the EU are given for the period from 2001 to 2020. In conclusion, the situation in Croatia was observed from 1961 onwards, with particular emphasis on the period from 2001 to 2020. Various statistical indicators were considered in the paper, including the share of the older population (over 65 years old) and the very old population (over 80 years old) in the total population. The share of the young population (from 0 to 19 years) and children (from 0 to 14 years) in the total population was also observed. The paper also analyzed the population’s average age, making comparisons across different time periods. The aging index represents the percentage of people aged 60 and over in relation to the number of people aged 0-19. An index greater than 40% indicates that the population of a specific area has entered the aging process. Assumptions were made about the future behavior of the number and structure of the EU and Croatian population and possible consequences thereof.
ACTIVE AGING AS A RESPONSE TO DEMOGRAPHIC CHALLENGES: SUPPORT OF THE SOCIAL WELFARE SYSTEM OF THE REPUBLIC OF CROATIA
ACTIVE AGING AS A RESPONSE TO DEMOGRAPHIC CHALLENGES: SUPPORT OF THE SOCIAL WELFARE SYSTEM OF THE REPUBLIC OF CROATIA
(ACTIVE AGING AS A RESPONSE TO DEMOGRAPHIC CHALLENGES: SUPPORT OF THE SOCIAL WELFARE SYSTEM OF THE REPUBLIC OF CROATIA)
- Author(s):Katarina Marošević, Anita Barišić, Suzana Dežić
- Language:English
- Subject(s):Demography and human biology, Gerontology, Welfare services
- Page Range:39-62
- No. of Pages:24
- Keywords:demographic aging; concept of active aging; quality of life of older people; social care system; social gerontology;
- Summary/Abstract:The demographic challenge of an aging population is a global and European trend in the Republic of Croatia and numerous other countries of the European Union. The concept of active aging is one of the possible approaches to analyzing and solving the challenges of aging. This paper aims to analyze the demographic structure of the population of the Republic of Croatia in the context of the challenges faced by the older people and the possibilities of active aging in the Republic of Croatia. The ultimate goal of the paper is to offer potential solutions so that older people are as much as possible and often included in the local community where they live and in society in general. Particular emphasis in the paper is placed on the quality of life of older people, in whose insurance the social welfare system and social policy measures play an essential role. Although the motivation for inclusion in the life and work of the local community and a more active approach to older people is based on the older people themselves, the social care system should also enable the implementation of inclusion and satisfaction of an adequate level of the older people’s needs.
THE INFLUENCE OF MACROECONOMIC INDICATORS ON THE DEVELOPMENT OF SENIOR ENTREPRENEURSHIP
THE INFLUENCE OF MACROECONOMIC INDICATORS ON THE DEVELOPMENT OF SENIOR ENTREPRENEURSHIP
(THE INFLUENCE OF MACROECONOMIC INDICATORS ON THE DEVELOPMENT OF SENIOR ENTREPRENEURSHIP)
- Author(s):Mihaela Mikić, Tin Horvatinović, Ivana Kovač
- Language:English
- Subject(s):National Economy, Business Economy / Management, Demography and human biology, Financial Markets, Socio-Economic Research
- Page Range:63-79
- No. of Pages:17
- Keywords:senior entrepreneurship; macroeconomic indicators; development;
- Summary/Abstract:Senior entrepreneurship, either as a partial employment option used to make additional income for a pension or as a full career option, is a tool for improving senior citizens’ economic position, quality of life, and self-actualization. The goal of this chapter is to identify macroeconomic indicators that can influence the development of senior entrepreneurship. The macroeconomic indicators investigated include GDP, unemployment, inflation, average salary, retirement age, and poverty risk. Research results showed two significant variables that influence the development of senior entrepreneurship: GDP and inflation. GDP was found to have a positive relationship, while inflation had a negative one. The limitations of this research include a lack of data, which limited research to only 11 countries in the European Union instead of all of them. Moreover, because the theory basis is very limited, it is hard to identify variables of interest. It is possible that because of this, none of the social security system variables showed as significant. Recommendations for future research would include further investigation of the influence of the economic environment on senior entrepreneurship to create a base for quality policy measures for its development and to broaden the investigation to include other types of environments. Furthermore, the motivation for starting a business in senior years should be investigated more, including economic and social perspectives.
BEYOND THE GOLDEN YEARS: EXPLORING CONTINUED WORKFORCE ENGAGEMENT IN RETIREMENT
BEYOND THE GOLDEN YEARS: EXPLORING CONTINUED WORKFORCE ENGAGEMENT IN RETIREMENT
(BEYOND THE GOLDEN YEARS: EXPLORING CONTINUED WORKFORCE ENGAGEMENT IN RETIREMENT)
- Author(s):Dominika Crnjac Milić, Radojko LUKIC, Anamarija Delić
- Language:English
- Subject(s):Demography and human biology, Human Resources in Economy, Socio-Economic Research
- Page Range:81-104
- No. of Pages:24
- Keywords:In the last decade, the labor market has undergone significant structural changes due to the aging of the population and the migration of workers to more developed EU countries. As a result of these c
- Summary/Abstract:In the last decade, the labor market has undergone significant structural changes due to the aging of the population and the migration of workers to more developed EU countries. As a result of these changes, the demand for workers has increased, as has the demand for retired people who want to continue their careers. To allow those already retired to extend their careers, changes in regulations were needed, as well as preparation of the labor market for the new type of workers. This paper examines what changes and adjustments have been made to the regulations and what the results and immediate effects are. By comparing data from two new countries - Croatia and Serbia - the best regulatory solutions will be identified, as well as the impact these changes have had on the labor market and the prolongation of employment of older people. To this end, secondary data sources will be used and compared to the conclusion. The research results could be used to prepare better policy measures for developing the future labor market.
DEMOGRAPHIC IMPACT ON INFLATION IN SOUTHEASTERN EUROPEAN COUNTRIES
DEMOGRAPHIC IMPACT ON INFLATION IN SOUTHEASTERN EUROPEAN COUNTRIES
(DEMOGRAPHIC IMPACT ON INFLATION IN SOUTHEASTERN EUROPEAN COUNTRIES)
- Author(s):Marija Trpkova-Nestorovska, Biljana Tashevska
- Language:English
- Subject(s):National Economy, Demography and human biology, Financial Markets, Socio-Economic Research
- Page Range:105-122
- No. of Pages:18
- Keywords:demographic aging; inflation; panel regression;
- Summary/Abstract:The phenomenon described as a link between demography and inflation has been particularly interesting. Extensive research has found that an expanding dependent population (young and old) is associated with higher inflation. On the other hand, an increasing working cohort is correlated with lower inflation. This study aims to investigate a potential association between demographic aging and inflation in countries of Southeast Europe by using the panel regression model. Using inflation as the dependent variable, the model includes a set of demographic and economic variables. The effects of dependency ratio, old-age dependency ratio, life expectancy, population growth, GDP growth and M2 growth are to be examined in the estimated models. The results confirm that inflation also rises as the old-age dependency ratio increases. This is an important insight that considers demographic changes as one of the major forces that shape the economic backdrop in a specific set of developing countries.
EXPLORING THE ECONOMIC IMPACT OF POPULATION AGING IN SERBIA THROUGH NATIONAL TRANSFER ACCOUNTS
EXPLORING THE ECONOMIC IMPACT OF POPULATION AGING IN SERBIA THROUGH NATIONAL TRANSFER ACCOUNTS
(EXPLORING THE ECONOMIC IMPACT OF POPULATION AGING IN SERBIA THROUGH NATIONAL TRANSFER ACCOUNTS)
- Author(s):Ivana Poljak, Slavica Manić
- Language:English
- Subject(s):National Economy, Demography and human biology, Financial Markets, Socio-Economic Research
- Page Range:123-140
- No. of Pages:18
- Keywords:age structure; demographic transition; life cycle deficit; National Transfer Accounts;
- Summary/Abstract:In demographic terms, Serbia almost entirely shares the fate of developed European countries regarding the age-structural transition, with expectations that its demographic aging will further intensify. The growing proportion of the older (an economically unproductive population segment) and the declining working-age population tend to produce adverse effects and inhibit economic growth. The existence of slight differences in the pattern of demographic transition does not imply that the economic life cycles of individuals within Europe are similar or identical. That is why our study investigates how people in Serbia produce and share resources at each age, with a particular focus on increased consumption and reduced savings in later stages of life caused by the impact of population aging, commonly known as the ‘silver tsunami’. The results are based on the transformation and analysis of the National Transfer Accounts (NTA) data provided by the Statistical Office of the Republic of Serbia (with the support of the United Nations Population Fund). Drawing on the latest available data from Serbia (in 2019) as well European-level databases, the analysis aims to explore features and peculiarities (if any) of the consumption patterns and financing of individuals in Serbia.
ENLIVENING BOTSWANA’S VISION OF INCLUSIVE ECONOMIC DEVELOPMENT THROUGH GOVERNMENT ECONOMIC EMPOWERMENT INITIATIVES: SHAM OR REALITY FOR OLDER ADULTS?
ENLIVENING BOTSWANA’S VISION OF INCLUSIVE ECONOMIC DEVELOPMENT THROUGH GOVERNMENT ECONOMIC EMPOWERMENT INITIATIVES: SHAM OR REALITY FOR OLDER ADULTS?
(ENLIVENING BOTSWANA’S VISION OF INCLUSIVE ECONOMIC DEVELOPMENT THROUGH GOVERNMENT ECONOMIC EMPOWERMENT INITIATIVES: SHAM OR REALITY FOR OLDER ADULTS?)
- Author(s):Rebecca Nthogo Lekoko, Gabatshwane Tsayang
- Language:English
- Subject(s):National Economy, Financial Markets, Human Resources in Economy, Business Ethics, Socio-Economic Research
- Page Range:141-154
- No. of Pages:14
- Keywords:economic empowerment; older adults; inclusivity; poverty reduction; Vision 2036;
- Summary/Abstract:This chapter reviews economic empowerment opportunities offered by Botswana’s government that align with the current vision of an inclusive economy advocated by the President of the Republic, Eric Keabetswe Masisi. An inclusive economy puts citizen inclusion at the center of economic development in which no one is discriminated against, be it gender, age, ethnicity, or background (Republic of Botswana, Presidential Task Group (1997). This non-discrimination virtue is buttressed in the current Vision 2036, which cogently maps out a pathway for every Motswana to be empowered to participate in the country’s development. This chapter thus reviews this commitment to inclusive economic development in line with the involvement of older adults 55 years and over. It uses existing government economic empowerment opportunities to gauge the participation of older adults. The authors contend that for Vision 2036 to truly serve its inclusive strand, much like youth empowerment, a clear economic empowerment strategy for older persons should be in place. The authors see the absence of an internationally recognized steppingstone, a national policy on aging and older persons, as a significant gap that can lead to a lack of systematic and coordinated systems for older persons’ inclusion. Older people can adapt to economic needs, and those who wish to contribute just like other citizens. Through examples showing evidence of older persons’ productivity, innovation, and interests elsewhere, the chapter suggests how this inclusive economic vision can become a reality for older persons in Botswana.
THE INDUSTRIALIZATION OF UZBEKISTAN AND TAJIKISTAN: IMPLICATIONS FOR THE AGING POPULATION IN AN ERA OF ECONOMIC TRANSFORMATION
THE INDUSTRIALIZATION OF UZBEKISTAN AND TAJIKISTAN: IMPLICATIONS FOR THE AGING POPULATION IN AN ERA OF ECONOMIC TRANSFORMATION
(THE INDUSTRIALIZATION OF UZBEKISTAN AND TAJIKISTAN: IMPLICATIONS FOR THE AGING POPULATION IN AN ERA OF ECONOMIC TRANSFORMATION)
- Author(s):Dalerjon Mirpochoev, Orifjon Nurmatov
- Language:English
- Subject(s):National Economy, Economic development, Financial Markets, Human Resources in Economy, Socio-Economic Research
- Page Range:155-174
- No. of Pages:20
- Keywords:industrialization; aging population; working-age population; dependency ratio;
- Summary/Abstract:The industrialization of Uzbekistan and Tajikistan is a crucial topic in the context of the aging population and economic transformation in these Central Asian countries. This paper aims to explore the impact of industrialization on the aging population, focusing on economic, social, and demographic aspects. The study will investigate how the industrialization process in these countries influences employment, social security, healthcare, and the overall well-being of older individuals. Additionally, it will analyze the opportunities and challenges that arise for the aging population in the context of evolving industrial landscapes in Uzbekistan and Tajikistan. Available secondary data was used for the analysis of economic transformation. In conclusion, recommendations are offered to mitigate the negative consequences of the aging population for transition economies.
ENHANCING THE EDUCATIONAL EXPERIENCE FOR AGING INDIVIDUALS: AN ANALYSIS OF THE UNIVERSITY FOR THE THIRD AGE
ENHANCING THE EDUCATIONAL EXPERIENCE FOR AGING INDIVIDUALS: AN ANALYSIS OF THE UNIVERSITY FOR THE THIRD AGE
(ENHANCING THE EDUCATIONAL EXPERIENCE FOR AGING INDIVIDUALS: AN ANALYSIS OF THE UNIVERSITY FOR THE THIRD AGE)
- Author(s):Alka Obadić, Zoran Ježić
- Language:English
- Subject(s):Adult Education, Higher Education , Demography and human biology, Inclusive Education / Inclusion, Sociology of Education
- Page Range:175-193
- No. of Pages:19
- Keywords:active aging; older participation; education; university; university for the third age;
- Summary/Abstract:Demographic change presents a challenge for all developed countries, especially EU countries, with significant aging populations. Therefore, active aging is key. Older people must be included in society, and their participation must be considered a priority without any stigmatization and discrimination they are often exposed to. Older people need to remain active in their daily lives in their community (e.g., education and training facilities that enable active aging at work, health and care services that support healthy aging and independent living, etc.). Consequently, meaningful educational opportunities for older individuals should be a top priority. This paper addresses the critical area of lifelong learning for an aging population, focusing on the university for the third age as a distinctive and innovative model. The authors undertake a comprehensive theoretical analysis of the literature published to date on education for older people to examine the impact and effectiveness of educational programs that address the educational needs of older adults. In the applied part of the paper, the authors analyze the programs and activities of the University for the Third Age of the University of Rijeka.
DO GRANDPARENTS MATTER IN THE EDUCATIONAL SUCCESS OF GRANDCHILDREN?
DO GRANDPARENTS MATTER IN THE EDUCATIONAL SUCCESS OF GRANDCHILDREN?
(DO GRANDPARENTS MATTER IN THE EDUCATIONAL SUCCESS OF GRANDCHILDREN?)
- Author(s):Ivana Barković Bojanić, Ivana Jobst, Sanja Filaković
- Language:English
- Subject(s):School education, Higher Education , Family and social welfare, Sociology of Education
- Page Range:195-216
- No. of Pages:22
- Keywords:aging population; multigenerational issues; educational success of children; grandparents effect;
- Summary/Abstract:Children’s educational success plays a pivotal role in shaping the collective progress and prosperity of economies and societies since it contributes to human capital development work productivity, reduces poverty and inequalities, increases civic participation, and promotes social cohesion, among other factors. This success is attributed to various factors, among which is the family. While the role of parents in children’s educational attainment and success has been well investigated, much less attention has been given to the role of grandparents in their grandchildren’s education and personal development. This paper aims to explore children’s educational success and the potential role that grandparents may have therein. This study will use univariate, bivariate, and multivariate statistical methods to explore grandparents’ involvement in grandchildren’s educational and extracurricular activities, thereby contributing to their educational success. The research data will be collected through a survey conducted in one of the primary schools in Osijek-Baranya County, Republic of Croatia. This paper will add a case study to the present literature and provide new insights into multigenerational issues and chal- lenges, which can be beneficial in terms of building better interaction relations between parents, grandparents, and school teachers.
MANAGEMENT OF DIET AND PHYSICAL ACTIVITY IN OLDER PEOPLE AS A FUNCTION OF HEALTHY AGING
MANAGEMENT OF DIET AND PHYSICAL ACTIVITY IN OLDER PEOPLE AS A FUNCTION OF HEALTHY AGING
(MANAGEMENT OF DIET AND PHYSICAL ACTIVITY IN OLDER PEOPLE AS A FUNCTION OF HEALTHY AGING)
- Author(s):Agneza Aleksijević, Ivana Kudeljaš
- Language:English
- Subject(s):Health and medicine and law, Demography and human biology, Gerontology
- Page Range:217-244
- No. of Pages:28
- Keywords:aging phenomenon; diet management; physical activity management; physiotherapy care; healthy aging;
- Summary/Abstract:From a macroeconomic pressure perspective, the global demographic trend of aging forces us to think about the management of diet and physical activity under the supervision of physiotherapists as a potential opportunity, considering that healthy aging reflects on the economy and society. Physiological changes accompany aging, and the older population shapes all segments of society. A significant number of diseases are the result of improper diet and lifestyle. A diet that includes a controlled intake of nutrients is recommended for older people. For older people to cope more easily with the changes brought by old age, they are recommended to be physically active and take care of their diet to ensure a healthy perception of life for themselves, the community and society. An interdisciplinary approach and physiotherapy care are significant in working with older people. Practice tells us that older people are the category of society that often uses physiotherapy services. The methodological framework of health promotion and disease prevention helps to affirm those patterns of behavior and activities that are an alternative to the one-sided and sometimes stigmatized attitude toward people over 65. The paper aims to propose behavior patterns for older people related to diet and physical activity guided by physiotherapy processes so that modern society does not look at the old age phenomenon through the lens of diseases and inactivity of this society category.
THE IMPORTANCE OF DEPRESCRIPTION IN THE QUALITY AND LENGTH OF LIFE OF ELDERLY PEOPLE
THE IMPORTANCE OF DEPRESCRIPTION IN THE QUALITY AND LENGTH OF LIFE OF ELDERLY PEOPLE
(THE IMPORTANCE OF DEPRESCRIPTION IN THE QUALITY AND LENGTH OF LIFE OF ELDERLY PEOPLE)
- Author(s):Ivan Lekić, Barbara Bačun, Tatjana Bačun
- Language:English
- Subject(s):Health and medicine and law, Demography and human biology, Gerontology, Welfare services
- Page Range:245-263
- No. of Pages:19
- Keywords:aging; deprescription; patient compliance; defensive medicine; multi-morbidity;
- Summary/Abstract:Deprescription is a process of reducing the dose and discontinuing a drug that could be harmful to the patient or from which the patient no longer benefits. Due to aging, patients may experience more harm than good from certain medications. Medical characteristics for deprescribing include polypharmacy, multi-morbidity, renal impairment, non-adherence, limited life expectancy, older age, etc. It is necessary to determine the goal of deprescription individually for each patient. The goal may be to simplify the dosing regimen in patients with poor medication adherence. Deprescription should be considered in all patients. First, these are patients with low expected survival, older people, patients with dementia or with numerous comorbidities. Defensive medicine has a risk of unnecessary diagnostic and therapeutic procedures and irrationally increases the costs of health care. Deprescription is one of the ways we can improve clinical outcomes and the patient’s quality of life.
