Why Does Population Aging Matter so Much for Asia? Population Aging, Economic Growth, and Economic Security in Asia

33 Pages Posted: 17 Nov 2011

See all articles by Sang-Hyop Lee

Sang-Hyop Lee

University of Hawaii - Department of Economics

Andrew W. Mason

University of Hawaii at Manoa; East-West Center - Research Program

Donghyun Park

Asian Development Bank - Economic Research

Date Written: October 1, 2011

Abstract

Asia as a whole is experiencing a rapid demographic transition toward older populations, though different countries are at different stages of this region wide trend. We document Asia’s aging population, describe the region’s old-age support systems, and highlight the regional socioeconomic implications of the transition for those support systems. Aging populations present two fundamental challenges to Asian policymakers: developing socioeconomic systems that can provide economic security to growing numbers of elderly while sustaining strong economic growth over the next few decades. Successfully addressing these two challenges will be vital for ensuring Asia’s continued economic success in the medium and long term.

Keywords: aging, demographic transition, old age income support, growth, asia, economics working paper no. 284

JEL Classification: J10, J11, J14, H55, O40

Suggested Citation

Lee, Sang-Hyop and Mason, Andrew W. and Park, Donghyun, Why Does Population Aging Matter so Much for Asia? Population Aging, Economic Growth, and Economic Security in Asia (October 1, 2011). Asian Development Bank Economics Working Paper Series No. 284, Available at SSRN: https://ssrn.com/abstract=1960877 or http://dx.doi.org/10.2139/ssrn.1960877

Sang-Hyop Lee (Contact Author)

University of Hawaii - Department of Economics ( email )

2424 Maile Way, SSB 542
Honolulu, HI 96822
United States
808-956-8590 (Phone)

Andrew W. Mason

University of Hawaii at Manoa ( email )

Honolulu, HI 96822
United States

East-West Center - Research Program ( email )

1601 East-West Road
Honolulu, HI 96848
United States

Donghyun Park

Asian Development Bank - Economic Research ( email )

6 ADB Avenue, Mandaluyong City 1550
Metro Manila
Philippines

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