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Aging and economic growth : issues relevant to Singapore

Author

Listed:
  • Shandre M. Thangavelu

    (SCAPE, NUS)

  • Yong Yik Wei

Abstract

The paper studies the effects of the changing age and education composition of the labour force on productivity growth in Singapore. The quality change of workers from aging and education is measured through a quality index. Quality change through education is the key driving force for the productive performance of the labour force. On the other hand, the growth in the labour quality of workers by age, and hence, its contribution to labour productivity growth is falling. To moderate the impact of the aging labour force on productivity growth, greater efforts to raise the educational profile of the labour force and to re-train older workers are required.

Suggested Citation

  • Shandre M. Thangavelu & Yong Yik Wei, 2006. "Aging and economic growth : issues relevant to Singapore," Labor Economics Working Papers 21821, East Asian Bureau of Economic Research.
    • Handle: RePEc:eab:laborw:21821
    as

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    File URL: http://www.eaber.org/node/21821
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    References listed on IDEAS

    as
    1. David A. Wise, 1990. "Issues in the Economics of Aging," NBER Books, National Bureau of Economic Research, Inc, number wise90-1, March.
    2. Mogens Fosgerau & Svend E. Hougaard Jensen & Anders Sørensen, 2002. "Measuring Educational Heterogeneity And Labor Quality: A Note," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(2), pages 261-269, June.
    3. Fosgerau, Mogens & Jensen, Svend E Hougaard & Sorensen, Anders, 2002. "Measuring Educational Heterogeneity and Labor Quality: A Note," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(2), pages 261-269, June.
    4. 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.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    aging; education; Productivity growth; Singapore;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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