STUDY OF THE IMPACT OF RAISING
THE RETIREMENT AGE ON ECONOMIC GROWTH
IN THE DIGITAL ECONOMY IN RUSSIA AND EUROPE

Svetlana Apenko – Omsk State Transport University, Omsk, 644010, Russian Federation, Karl Marx Ave., 35

Olga Kiriliuk – Omsk State Transport University, Omsk, 644010, Russian Federation, Karl Marx Ave., 35

Elena Legchilina – Omsk State Transport University, Omsk, 644010, Russian Federation, Karl Marx Ave., 35

Tatiana Tsalko – Omsk State Transport University, Omsk, 644010, Russian Federation, Karl Marx Ave., 35

DOI: https://doi.org/10.31410/EMAN.2020.69

4th International Scientific Conference – EMAN 2020 – Economics and Management: How to Cope With Disrupted Times, Online/Virtual, September 3, 2020, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-30-1, ISSN 2683-4510

Abstract:

The article presents the results of a study of the impact of pension reform in Russia on economic
growth and quality of life in a digital economy, taking into account the experience of raising the
retirement age in Europe. The aim of the study was to identify and analyze the impact of raising the
retirement age on economic growth in the context of the development of digitalization in Russia and a
comparative analysis with European countries.
Results: the studies conducted allowed us to develop a system of indicators characterizing the impact
of raising the retirement age on economic growth and the quality of life of the population in the context
of digitalization.
The authors found that raising the retirement age leads to a change in labor relations in Russia and
Europe. The application of the proposed indicators can be used in the formation of a balanced state
socio-economic policy in the field of institutional changes in the field of labor relations and raising the
retirement age. The study was carried out under a grant from the RFBR № 19-010-00362 А.

Keywords:

Pension reform, Economic growth, Quality of life, Digital economy, Digitalization, Russia,
Europe.

REFERENCES

[1] Gurvich E.T., Ivanova M.A. The economic effect of aging populations and pension reforms
// Financial Journal. 2018. No5 (45).
[2] World Population Prospects: The 2017 Revision. United Nations, 2017
[3] Maestas N., Mullen K. J., Powell D. The Effect of Population Aging on Economic Growth,
the Labor Force and Productivity. NBER Working Paper, 2016, no. 22452.
[4] RosBusinessConsulting: [site]. URL: https://www.rbc.ru/economics
[5] Iga Rudawska, Active Ageing and its Impact on Labor Market, Economics & Sociology,
Vol. 3, No 1, 2010, pp. 9-24.
[6] Carolin Nerlich and Joachim Schroth. The economic impact of population ageing and
pension reforms // ECB Economic Bulletin, Issue 2 / 2018 –The economic impact of population
ageing and pension reforms.
[7] Iparraguirre J.L. (2020) The Older Labour Force. In: Economics and Ageing. Palgrave
Macmillan, Cham.
[8] Baksa D. and Munkacsi Z. A detailed description of ogre, the olg model/ working paper
series No 31, 2016. 70 р.

ADDITIONAL READING
Eurostat. Life expectancy by age and sex [demo_mlexpec] (Last update 10.09.18, Extracted on
31.01.19).
52% of Older Workers Forced into Involuntary Retirement (2018). report. New York, NY: United
States of America. url: https://www.economicpolicyresearch.org/jobs-report/september-
2018-unemployment-report-for-workers-over-55.
Age UK (2017). Behind the headlines: Why the employment rate does not tell the whole story
about working longer. Technical report. London: United Kingdom. Google Scholar.
Andersson, Gerhard et al. (2018). “Long-term effects of internet-supported cognitive behaviour
therapy”. In: Expert Review of Neurotherapeutics 18.1, pages 21–28. CrossRef Google
Scholar.
Axelrad, Hila, Israel Luski, and Miki Malul (2017). “Reservation wages and the unemployment
of older workers” In: Journal of Labor Research 38.2, pages 206–227. CrossRef Google
Scholar.
Axelrad, Hila, Miki Malul, and Israel Luski (2018). “Unemployment among younger and older
individuals: does conventional data about unemployment tell us the whole story?” In: Journal
for Labour Market Research 52.3. url: https://doi.org/10.1186/s12651-018-0237-9.
Azar, Ariel et al. (2019). “From Snapshots to Movies: The Association Between Retirement
Sequences and Aging Trajectories in Limitations to Perform Activities of Daily Living”.
In: Journal of Aging and Health 31.2, pages 293–321. CrossRef Google Scholar.
Banerjee, Sudipto and David M Blau (2016). “Employment Trends by Age in the United States.
Why Are Older Workers Different?” In: Journal of Human Resources 51.1, pages 163–199.
CrossRef Google Scholar.
Bell, David NF and David G Blanchflower (2018). The Well-being of the Overemployed and
the Underemployed and the Rise in Depression in the UK. NBER Working Paper 24840.
Cambridge, MA: United States of America: National Bureau of Economic Research. Google
Scholar.
Bick, Alexander, Nicola Fuchs-Schündeln, and David Lagakos (2018). “How do Hours Worked
Vary with Income? Cross-Country Evidence and Implications”. In: American Economic
Review 108.1, pages 170–199. CrossRef Google Scholar.
Brickell, Katherine et al. (2018). Blood Bricks: Untold Stories of Modern Slavery and Climate
Change from Cambodia. Technical report. London: United Kingdom. Google Scholar.
Jones, Melanie K, Rhys Davies, and Stephen Drinkwater (2018). “The dynamics of disability
and work in Britain”. In: The Manchester School 86.3, pages 279–307. CrossRef Google
Scholar.
Mousteri, Victoria, Michael Daly, and Liam Delaney (2018). “The scarring effect of unemployment
on psychological well-being across Europe”. In: Social Science Research 72, pages
146–169. CrossRef Google Scholar.

Download full paper