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Demographic Transition and Optimal Saving in Four Asian Countries

Author

Listed:
  • Guest, R.S.

    (Graduate School of Management, Griffith University)

  • McDonald, I.M.

    (Department of Economics, University of Melbourne)

Abstract

This paper reports projections of the impact of prospective demographic change on the pattern of optimal national saving for four Asian countries: Philippines, Malaysia, Hong Kong and Singapore for the period from 2000 to 2050. The method is simulation of a Ramsey model of optimal saving for a small open economy with vintage capital. The simulations show that variations on prospective demographic change cause variations in the patterns of optimal rates of national saving, reinforcing the idea that evaluations of a country's saving performance should take account of its prospective demographic structure.

Suggested Citation

  • Guest, R.S. & McDonald, I.M., 2004. "Demographic Transition and Optimal Saving in Four Asian Countries," Economic Analysis and Policy, Elsevier, vol. 34(1), pages 1-13, March.
    • Handle: RePEc:eee:ecanpo:v:34:y:2004:i:1:p:1-13
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    More about this item

    Keywords

    Demographics; Saving;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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