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Aging and Economic Growth: Issues Relevant to Singapore

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Author Info

  • Shandre Thangavelu

    ()
    (Singapore Centre for Applied and Policy Economics, Department of Economics, National University of Singapore)

  • Yong Aik Wei

    ()
    (Singapore Centre for Applied and Policy Economics, Department of Economics, National University of Singapore)

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    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.

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    File URL: http://www.fas.nus.edu.sg/ecs/pub/wp-scape/0613.pdf
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    Bibliographic Info

    Paper provided by National University of Singapore, Department of Economics, SCAPE in its series SCAPE Policy Research Working Paper Series with number 0613.

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    Length: 38 pages
    Date of creation: Jul 2006
    Date of revision:
    Handle: RePEc:sca:scaewp:0613

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    Web page: http://www.fas.nus.edu.sg/ecs/scape/index.html
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    1. 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.
    2. 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 261-69, June.
    3. Bartel, Ann P & Lichtenberg, Frank R, 1987. "The Comparative Advantage of Educated Workers in Implementing New Technology," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 1-11, February.
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