Are Asia's Demographic Dividends Disappearing?

Abstract

Abstract:Countries in Asia and around the world are experiencing two demographic trends of great importance to their economies. Working-age populations are growing more slowly and the share of population at older ages is increasing more rapidly. The results presented in this article address the economic implications of these changes and strategies for responding. Responding effectively requires that institutions and policies are reformed to ensure that older adults can contribute more to society than was the case for previous generations. Effective investment in human capital can ensure that smaller cohorts of working-age adults can produce as much or more than larger cohorts of working-age adults did in the past. Economic resources can be marshalled by seniors and those approaching retirement to provide for their own economic security and to support stronger economic growth.