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The Economic Life Cycle and Support Systems in Asia

Author

Listed:
  • Sang-Hyop Lee

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

  • Andrew Mason

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

Abstract

We describe the complex support systems in Asia and highlight their importance for economic growth and fiscal sustainability. Familial transfers for old age support are significant in many Asian economies, though their extent varies quite widely, and public transfer systems are less significant. This is important because the region has the opportunity to develop sustainable systems less encumbered by obligations made to current and future generations of elderly. Relying on accumulated assets rather than transfers will help the region to create capital- intensive economies that can maintain standards of living.

Suggested Citation

  • Sang-Hyop Lee & Andrew Mason, 2011. "The Economic Life Cycle and Support Systems in Asia," ADB Economics Working Paper Series 283, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0283
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    Cited by:

    1. Chomik, Rafal & McDonald, Peter & Piggott, John, 2016. "Population ageing in Asia and the Pacific: Dependency metrics for policy," The Journal of the Economics of Ageing, Elsevier, vol. 8(C), pages 5-18.
    2. Kim, Hyun Kyung & Lee, Sang-Hyop, 2021. "The effects of population aging on South Korea’s economy: The National Transfer Accounts approach," The Journal of the Economics of Ageing, Elsevier, vol. 20(C).

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