Chapter

The Demographic Transition and Economic Growth in the Pacific Rim

Andrew Mason, Ronald Lee and Sang-Hyop Lee

in The Economic Consequences of Demographic Change in East Asia

Published by University of Chicago Press

Published in print October 2010 | ISBN: 9780226386850
Published online February 2013 | e-ISBN: 9780226386881 | DOI: http://dx.doi.org/10.7208/chicago/9780226386881.003.0002
The Demographic Transition and Economic Growth in the Pacific Rim

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This chapter provides an overview of the common patterns of demographic transition in the major countries of East Asia. The chapter shows dramatic change in support ratios between 2008 and 2050. The main concern is about the methods through which resources (not only income, but also healthcare) can be provided for the needs of the elderly. In Pay-As-You-Go (PAYGO) systems, no extra capital is accumulated during the period of the first demographic dividend, whether the transfers are provided by the state or through more informal family arrangements. The chapter shows an inverse relationship between the fertility rate and educational and health expenditures per child in the region. The asset accumulation patterns would be very different depending on the assumption on intergenerational transfers which has been shown by a simulation model for ASEAN countries.

Keywords: demographic transition; East Asia; Pay-As-You-Go; PAYGO; demographic dividend; fertility rate

Chapter.  16603 words.  Illustrated.

Subjects: Business and Management

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