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Demographic Changes, Saving, and Current Account in East Asia

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Author Info

  • Soyoung Kim

    (Department of Economics, Korea University, Anam-Dong, Sungbuk-Gu, Seoul, 136-701, Republic of Korea)

  • Jong-Wha Lee

    (Department of Economics, Korea University and the Australian National University)

Abstract

This paper analyzes the empirical relationships among demographic changes, saving, and current account balances in East Asia. The panel Vector-Auto Regressive (VAR) model shows that an increase in the dependency rate, especially the elderly dependency rate, significantly lowers saving rates and subsequently worsens current account balances. The result implies that the future aging of the population in East Asia would have a significant impact on global capital flows and current account imbalances. (c) 2007 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

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Bibliographic Info

Article provided by MIT Press in its journal Asian Economic Papers.

Volume (Year): 6 (2007)
Issue (Month): 2 (May)
Pages: 22-53

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Handle: RePEc:tpr:asiaec:v:6:y:2007:i:2:p:22-53

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Web page: http://mitpress.mit.edu/journals/

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Cited by:
  1. Guonan Ma & Zhou Haiwen, 2009. "China’s evolving external wealth and rising creditor position," BIS Working Papers 286, Bank for International Settlements.
  2. Kam Ki Tang & Michael Graff & Jie Zhang, . "Macroeconomic Fluctuations in Emerging Economies: An Unobserved Components Approach," MRG Discussion Paper Series 4111, School of Economics, University of Queensland, Australia.
  3. Andrew K. Rose & Saktiandi Supaat, 2007. "Fertility and the Real Exchange Rate," NBER Working Papers 13263, National Bureau of Economic Research, Inc.
  4. Nickel, Christiane & Vansteenkiste, Isabel, 2008. "Fiscal policies, the current account and Ricardian equivalence," Working Paper Series 0935, European Central Bank.

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