Aging in the Asian “Tigers”: Challenges for Fiscal Policy

Peter Heller

No 1997/143, IMF Working Papers from International Monetary Fund

Abstract: The paper assesses the government expenditure effects from changing demographics in the Asian “Tiger” economies through 2050. With some exceptions, their limited social insurance commitments initially suggest that aging populations may not adversely affect fiscal balances. Yet for all the Tigers, changing illness patterns and medical modernization may combine with demographics to intensify budgetary pressures. The paper notes the implications of the Tigers’ reliance on private sector pension and medical insurance systems; the need for an active public role; and the complications for fiscal analysis when private sector instruments are used, in a mandatory way, as public policy instruments.

Keywords: WP; government outlay; labor force; government regulation; insurance scheme; pension outlay; aging; Asia; demographics; health; medical care; pensions; government expenditure share; contribution scheme; health outlay; government involvement; government employee; market failure; government hospital; government expenditure effect; Pension spending; Health care; Southeast Asia; East Asia; Western Europe; Global (search for similar items in EconPapers)
Pages: 55
Date: 1997-10-01
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