| Resumo: | At present, the aging of the population has become an alarming issue in the world, and especially how it will affect the accumulation of human capital, thus economic growth. This empirical research focus on Chinese time series data over the period 1980 to 2015 and, using a Vector autoregressive model (VAR), analyzes the dynamic link between aging, human capital and economic growth. The work follows four steps. First, a theoretical model of aging, human capital, and economic growth is presented. Second, the properties of the time series for the model variables including GDP, the capital stock, the number of university graduates and the number of workers were ascertained with Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root procedures. Third, the variables were regressed in a VAR model. Finally, impulse response analysis and variance decomposition were applied to better assess the variables relationship. The model results show that population aging is harmful to economic growth and that the growth of human capital will slow down the growth rate of GDP. The findings suggest that aging and human capital bring both opportunities and challenges. How to face these problems and achieve a coordinated development of aging, human capital, and economic growth is a central issue in the economic development of China.
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