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Can Technology Offset the Effects of Population Aging on Economic Growth? New Report from the Asian Development Bank

by East-West Center

East-West Wire

Publisher: Honolulu, HI: East-West Center
Publication Date: 27 March 2020
Binding: electronic
Pages: 2
Free Download: PDF

 

Population aging will leave many of Asia's economies increasingly dependent on an aging, and eventually a shrinking, workforce. Historically, an aging workforce has been seen as an impediment to economic growth. Experience from economies in advanced stages of aging suggests, however, that population aging can induce innovation and adoption of new technologies and so promote productivity and sustained growth. But there is no guarantee that all aging societies stand to benefit. Countries in Asia need to adopt technologies appropriate for their level of demographic transition, facilitate learning across all ages, and encourage regional cooperation for the most efficient use of their work forces and other resources.