Aging and Economic Growth: Issues Relevant to Singapore
Shandre Thangavelu () and
Yong Aik Wei ()
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Shandre Thangavelu: Singapore Centre for Applied and Policy Economics, Department of Economics, National University of Singapore
Yong Aik Wei: Singapore Centre for Applied and Policy Economics, Department of Economics, National University of Singapore
SCAPE Policy Research Working Paper Series from National University of Singapore, Department of Economics, SCAPE
The paper studies the effects of the changing age and education composition of the labour force on productivity growth in Singapore. The quality change of workers from aging and education is measured through a quality index. Quality change through education is the key driving force for the productive performance of the labour force. On the other hand, the growth in the labour quality of workers by age, and hence, its contribution to labour productivity growth is falling. To moderate the impact of the aging labour force on productivity growth, greater efforts to raise the educational profile of the labour force and to re-train older workers are required.
JEL-codes: J24 O40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-edu, nep-hrm, nep-lab and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:sca:scaewp:0613
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