Reserves linked to aging population
Comparing Age dependency ratio, old (% of working-age population) with Total reserves minus gold (current US$), per capita across 175 countries, 2025–2025.
- Rank correlation
- +0.57
- Holding size constant
- +0.47
- Countries compared
- 175
- Period
- 2025–2025
What might link these
The relationship between total reserves minus gold per capita and age dependency ratio might be influenced by a country's economic development stage, as both indicators can reflect a nation's financial stability and demographic changes. A careful reader should consider that healthcare expenditure could be a confounder, as it affects both the financial reserves and the dependency ratio. The correlation suggests a pattern but does not imply direct causation.
Why this is not proof of anything
This is a correlation across countries, not an experiment. It cannot show that either indicator causes the other, and both may simply follow a third thing. This correlation could mislead by overlooking other factors such as government policies and social security systems that influence both indicators.
The second figure above repeats the measurement with national population and income held constant. It is the more conservative number: a relationship that largely disappears there was mostly telling you that larger, richer countries have more of most things.
How this was measured
Both indicators were ranked across every country reporting each, and the two rankings compared — ranks rather than raw values, because a handful of very large countries can otherwise manufacture a relationship on their own. The calculation is arithmetic over figures already published on this site; the commentary above is drafted from the two indicator names and the resulting coefficients.