Population, Wealth, and Economic Growth in the Asia and Pacific Region

Abstract

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The Economic Life Cycle and Support Systems in Asia

“…In none do 60-yearolds produce more than they consume. In general, labor income is more important at older ages in low-income countries as discussed in Mason and Lee (2011). Here we see that Indonesia and the Philippines have high labor incomes at old ages relative to more advanced Asian countries.…”

“…Some of the issues are addressed by Mason and Lee (2011) in more detail. For example, transfers of wealth are closely related to intergenerational equity because they measure the shift of resources between current generations and future generations.…”

“…Just working longer will not be sufficient. The current low reliance on public transfers will allow Asian economies to develop sustainable systems less encumbered by obligations to current and future generations of elderly (Mason and Lee 2011). Keeping publicly funded health care for the elderly at a reasonable level will be crucial to developing sustainable systems.…”

Trade Openness and Income: A Tale of Two Regions

“…Nevertheless, it is worth noting that the population coefficient turns out to be positive and significant when the model is re‐estimated for the Asian sample excluding Japan (See Appendix, Tables A2 and A3). The demographic dividend experienced by several nations of Asia could provide an explanation for the change of sign for the coefficient of population (Mason and Lee, ). For instance, according to Mason and Lee () the fact that working‐age populations are growing faster than dependent populations in many Asian countries could increase labour productivity and per capita growth.…”

The economic lifecycle and support systems in Asia

“…There are many important issues regarding the support systems in Asia that are closely related to rapid population aging in the region. Some of the issues are addressed by Mason and Lee (2011) in more detail. For example, transfers of wealth are closely related to intergenerational equity because they measure the shift of resources between current generations and future generations.…”