Impact of Population Aging on Asia’s Future Economic Growth, 2021–2050

Donghyun Park and Kwanho Shin

Asian Development Review (ADR), 2023, vol. 40, issue 01, 49-78

Abstract: Developing Asia has grown faster than other parts of the world for decades. However, population aging is expected to pose significant headwinds to the region’s future economic growth. We update and enhance the analysis of Park and Shin (2012) to project the impact of population aging on developing Asia’s growth between 2021 and 2050. Our projections indicate that a demographic transition will have a substantial negative effect on the region’s future growth, but the effect varies across economies. Older economies will suffer a demographic tax, whereas younger economies will continue to enjoy a positive but declining demographic dividend.

Keywords: aging; Asia; growth; investment; labor force; saving; total factor productivity (search for similar items in EconPapers)
JEL-codes: E22 J10 J21 O40 O47 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:adrxxx:v:40:y:2023:i:01:n:s0116110523500014

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DOI: 10.1142/S0116110523500014

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