NDLI: Population Aging and the Possibility of a Middle-Income Trap in Asia

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Population Aging and the Possibility of a Middle-Income Trap in Asia

Content Provider	Scilit
Author	Ha, Joonkyung Lee, Sang-Hyop
Copyright Year	2018
Description	Journal: SSRN Electronic Journal We present three conditions for a demography-driven middle-income trap and show that many economies in East, South, and Southeast Asia satisfy all of them. The conditions are (1) support ratio—the ratio of workers to consumers—matters for economic growth, (2) economic development accompanies more investment in human capital and lower fertility due to the quantity–quality trade-off, and (3) current low level of fertility corresponds to too low support ratios for keeping up with the frontier economies in the long run. The panel analyses for 178 countries, among which 30 are ADB developing member economies, show that (i) and (ii) are satisfied for Asia with higher elasticity than others. As for (iii), we set up a dynamic model for simulations, showing that about two-thirds of ADB members have unsustainable level of support ratios, implying possibilities of a middle-income trap due to demographic headwinds in the future.
Related Links	https://www.econstor.eu/bitstream/10419/203376/1/1014312361.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3188471
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3188471
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2018-02-01
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Middle-income Trap National Transfer Accounts Support Ratio
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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