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Is Asia Prepared for An Aging Population?

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  • Peter S. Heller

Abstract

Many Asian countries (such as China, Singapore, Korea, Thailand, Malaysia, Indonesia, India, and the Philippines) will experience a significant aging of their populations during the next several decades. This paper explores how these aging Asian countries are addressing and anticipating the challenges of an aging society. It suggests that Asia''s preparedness for an aging population is decidedly mixed. While growth policies have been successful, much work is still needed in many countries to establish an adequate and farsighted policy framework in the areas of pensions, health insurance, and labor market policies.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 06/272.

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Length: 33
Date of creation: 01 Dec 2006
Date of revision:
Handle: RePEc:imf:imfwpa:06/272

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Keywords: Aging; Asia; Economic conditions; Social safety nets; retirement; health care; pension; health insurance; medical care; aging population; pension system; labor force; provident fund; replacement rate; insurance systems; social health insurance; pensions; insurance system; retirement age; paygo; national health; public hospitals; national pension; health care system; pension fund; health care systems; informal sector; medical insurance; adverse selection; health insurance system; medical services; dependency ratio; contribution rates; health systems; provident funds; health financing; health system; pension scheme; pocket payments; individual account; public health; care systems; private health insurance; health expenditure; market risk; life expectancy; long-term care; pension liabilities; defined benefit; pension plan; primary health care; private employer; retirement benefits; health insurance scheme; medical costs; fee-for-service; pension systems; individual account system; adverse selection problems; medical expenditure; payroll tax; future pension; age support; public schemes; contribution rate; primary care; health policies; national pension fund; early retirement; private hospitals; retirement income; private insurance; funded scheme; health conditions; employees ? pension; occupational pension; insurance market; health expenditures; medical bills; dependency ratios; family support; public sector pension system; private employers; block grants; fee-for-service payment; cost of care; actuarial neutrality; pension payments; systems ? for pensions; intergenerational transfers; medical treatment; accumulated savings; employee retirement; labor force participation; age at retirement; mandatory scheme; pension benefits; investment returns; unfunded pension; hospital beds; pension rights; tax rates; capitation payments; minimum pension; mandatory savings; public health services; initial retirement age; pillar system; domestic savings; retirement period; old-age pensions; government pensions; retirement pension; old age pension; defined contributions; annuity market; private care; retirement incomes; health insurance coverage; health care providers; medical benefit; health professionals; aging populations; public health care; health care sector; private savings; benefit levels; retirement benefit; pension fund assets; public spending; price indexation; contributory pension; mutual funds; medical savings accounts; three-pillar system; insurance coverage; supply of beds; pensioners; macroeconomic policy; benefit schemes; health care costs; health-care; health sector; annuity purchase; age of retirement; mandatory saving; public health system; earnings replacement; administrative costs; insurance providers; income growth; replacement rates; medical technologies; benefit scheme; benefit payments; minimum income; retirement policies; contractual arrangements; aged pension; medical expenses; contribution base; old age support; public hospital; health-care sector; unfunded pension liabilities; health service; health care services; national pension scheme;

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  1. David E. Bloom & David Canning, 2004. "Global demographic change : dimensions and economic significance," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 9-56.
  2. Adam Wagstaff, 2007. "Health systems in East Asia: what can developing countries learn from Japan and the Asian Tigers?," Health Economics, John Wiley & Sons, Ltd., vol. 16(5), pages 441-456.
  3. Rakesh Mohan, 2004. "Fiscal challenges of population aging : the Asian experience," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 299-257.
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Cited by:
  1. Park, Donghyun & Estrada, Gemma, 2012. "Developing Asia’s Pension Systems and Old-Age Income Support," ADBI Working Papers 358, Asian Development Bank Institute.

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