Aging population linked to lower SDRs holdings
Comparing Population ages 65 and above, total, per unit of GDP with SDRs holdings, US dollar, per capita across 187 countries, 2020–2025.
- Rank correlation
- -0.72
- Holding size constant
- -0.60
- Countries compared
- 187
- Period
- 2020–2025
What might link these
The relationship between an aging population and lower SDRs holdings per capita might be influenced by economic factors such as pension obligations and social security expenditures, which could divert funds away from international reserves. A careful reader should consider the potential impact of government debt as a likely confounder. The correlation suggests a possible trade-off between domestic social welfare spending and international financial reserves.
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 implying a direct causal link between aging populations and SDRs holdings, when in fact the relationship may be driven by other underlying economic factors.
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.