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East Asian economic development: Two demographic dividends

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Author Info

  • Mason, Andrew
  • Kinugasa, Tomoko

Abstract

Countries throughout the world are experiencing changes in their population age structure, but they are particularly rapid in East Asia. During the last part of the 20th Century the region benefited from an increased concentration of population in the working ages. Population aging is now the increasing rapidly with potentially adverse economic effects. The evidence presented here shows that population aging can lead to a second demographic dividend because population aging may lead to rapid capital accumulation. This appears to have occurred in East Asia because public support systems for the elderly are smaller and because family support systems are in decline.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Asian Economics.

Volume (Year): 19 (2008)
Issue (Month): 5-6 ()
Pages: 389-399

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Handle: RePEc:eee:asieco:v:19:y:2008:i:5-6:p:389-399

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Web page: http://www.elsevier.com/locate/asieco

Related research

Keywords: Population Aging Saving Wealth;

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References

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  1. David E. Bloom & Jeffrey G. Williamson, 1997. "Demographic Transitions and Economic Miracles in Emerging Asia," NBER Working Papers 6268, National Bureau of Economic Research, Inc.
  2. David E. Bloom & David Canning & Bryan Graham, 2002. "Longevity and Life Cycle Savings," NBER Working Papers 8808, National Bureau of Economic Research, Inc.
  3. repec:fth:harver:1490 is not listed on IDEAS
  4. Kelley, Allen C & Schmidt, Robert M, 1996. "Saving, Dependency and Development," Journal of Population Economics, Springer, vol. 9(4), pages 365-86, November.
  5. Kinugasa, Tomoko & Mason, Andrew, 2007. "Why Countries Become Wealthy: The Effects of Adult Longevity on Saving," World Development, Elsevier, vol. 35(1), pages 1-23, January.
  6. Robert M. Schmidt & Allen C. Kelley, 1996. "Saving, dependency and development," Journal of Population Economics, Springer, vol. 9(4), pages 365-386.
  7. Cutler, D.M. & Poterba, J.M. & Sheiner, L.M. & Summers, L.H., 1990. "An Aging Society: Opportunity Or Challenge," Working papers 553, Massachusetts Institute of Technology (MIT), Department of Economics.
  8. Alwyn Young, 1992. "A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore," NBER Chapters, in: NBER Macroeconomics Annual 1992, Volume 7, pages 13-64 National Bureau of Economic Research, Inc.
  9. World Bank, 2003. "World Development Indicators 2003," World Bank Publications, The World Bank, number 13920, October.
  10. Zilcha, Itzhak & Friedman, Joseph, 1985. "Saving behavior in retirement when life horizon is uncertain," Economics Letters, Elsevier, vol. 17(1-2), pages 63-66.
  11. Junji Kageyama, 2003. "The Effects of A Continuous Increase in Lifetime on Saving," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 49(2), pages 163-183, 06.
  12. Kelley, Allen C, 1988. "Economic Consequences of Population Change in the Third World," Journal of Economic Literature, American Economic Association, vol. 26(4), pages 1685-1728, December.
  13. Akira Yakita, 2001. "Uncertain lifetime, fertility and social security," Journal of Population Economics, Springer, vol. 14(4), pages 635-640.
  14. Strawczynski, Michel, 1993. "Income uncertainty, bequests and annuities," Economics Letters, Elsevier, vol. 42(2-3), pages 155-158.
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Cited by:
  1. Hickson, Kerry Jane, 2009. "The contribution of increased life expectancy to economic development in twentieth century Japan," Journal of Asian Economics, Elsevier, vol. 20(4), pages 489-504, September.

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