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East Asian Economic Development: Two Demographic Dividends

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Author Info

  • Andrew Mason

    ()
    (University of Hawaii at Manoa and East-West Center)

  • Tomoko Kinugasa

    (Kobe University and University of Hawaii)

Abstract

The important of the demographic dividend to East Asian economic growth is now widely recognized. During the last four decades of the 20th Century the working age populations grew much more rapidly than the dependent populations fueling growth in per capita income. Over the coming decades, however, demographic change is seemingly unfavorable. In the coming decades the working-age populations of many countries will grow more slowly than dependent populations because of rapid growth of the elderly. Thus, the demographic dividend will be undone. The thesis advanced in this presentation, however, is that appropriate economic policy could produce a second demographic dividend - one that is as great or greater than the first dividend and one that may last indefinitely. Contrary to popular wisdom, population aging may prove to be the source of stronger economic growth and greater prosperity in East Asia.

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Bibliographic Info

Paper provided by East-West Center, Economics Study Area in its series Economics Study Area Working Papers with number 83.

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Length: pages
Date of creation: Jun 2005
Date of revision:
Handle: RePEc:ewc:wpaper:wp83

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  1. Bloom, David E & Williamson, Jeffrey G, 1998. "Demographic Transitions and Economic Miracles in Emerging Asia," World Bank Economic Review, World Bank Group, vol. 12(3), pages 419-55, September.
  2. David M. Cutler & James M. Poterba & Louise M. Sheiner & Lawrence H. Summers, 1990. "An Aging Society: Opportunity or Challenge?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 21(1), pages 1-74.
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  6. 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.
  7. repec:fth:harver:1490 is not listed on IDEAS
  8. World Bank, 2003. "World Development Indicators 2003," World Bank Publications, The World Bank, number 13920, January.
  9. 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.
  10. Akira Yakita, 2001. "Uncertain lifetime, fertility and social security," Journal of Population Economics, Springer, vol. 14(4), pages 635-640.
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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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