The Economic Life Cycle and Support Systems in Asia

Sang-Hyop Lee and Andrew Mason

No 283, ADB Economics Working Paper Series from Asian Development Bank

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.

Pages: 26 pages
Date: 2011-10-31
Note: http://www.adb.org/sites/default/files/economics-wp283.pdf
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Chapter: The economic lifecycle and support systems in Asia (2012)
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