Abstract
Developing Asia has grown faster than other parts of the world for decades. However, population aging is expected to pose significant headwinds to the region's future economic growth. We update and enhance the analysis of Park and Shin (2012) to project the impact of population aging on developing Asia's growth between 2021 and 2050. Our projections indicate that a demographic transition will have a substantial negative effect on the region's future growth, but the effect varies across economies. Older economies will suffer a demographic tax, whereas younger economies will continue to enjoy a positive but declining demographic dividend.
| Original language | English |
|---|---|
| Pages (from-to) | 49-78 |
| Number of pages | 30 |
| Journal | Asian Development Review |
| Volume | 40 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 2023 Mar 1 |
Bibliographical note
Publisher Copyright:© 2023 Asian Development Bank.
Keywords
- Asia
- aging
- growth
- investment
- labor force
- saving
- total factor productivity
ASJC Scopus subject areas
- Geography, Planning and Development
- Development
- Economics and Econometrics
