ERIA Discussion Paper 2011-04 "Why Does Population Aging Matter So Much for Asia?" has been updated on 24 August 2011. To reach this, please click on the following link.

http://www.eria.org/pdf/ERIA-DP-2011-04.pdf

ERIA Discussion Paper 2011-04
"Why Does Population Aging Matter So Much for Asia?
Population Aging, Economic Security and Economic Growth in Asia"

Sang-Hyop LEE
East West Center and University of Hawaii at Manoa, USA

Andrew MASON
East West Center and University of Hawaii at Manoa, USA

Donghyun PARK
Economics and Research Department, Asian Development Bank, Philippines

Abstract: Asia as a whole is experiencing a rapid demographic transition toward older population structures. Within this broader region-wide trend, there is considerable heterogeneity, with different countries at different stages of the demographic transition. In this paper, we document Asia's population aging, describe the region's old-age support systems, and draw out the regional socioeconomic implications of population aging and old-age support systems. Population aging gives rise to two fundamental challenges for the region - (1) developing socioeconomic systems that can provide economic security to the growing number of elderly and (2) sustaining strong growth in the face of aging over the next few decades. Successfully addressing those two challenges will be vital for ensuring Asia's continued economic success in the medium and long term.