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The Economic Life Cycle and Support Systems in AsiaSang-Hyop LeeUniversity of Hawaii at Manoa - Department of Economics Andrew W. MasonUniversity of Hawaii at Manoa; East-West Center - Research Program October 1, 2011 Asian Development Bank Economics Working Paper Series No. 283 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.
Number of Pages in PDF File: 35 Keywords: aging, demographic transition, economic growth, labor income, labor market, national transfer accounts, NTA, old age income support, growth, population, Asia, Economics Working Paper No. 283 JEL Classification: J14, J10, H31, E21 working papers seriesDate posted: November 17, 2011Suggested CitationContact Information
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