The effects of demographic changes on the economy of South Asia

The effects of demographic changes on the economy of South Asia.  

The effects of demographic changes on the economy of South Asia

 

Abstract

Through this paper, I discuss the effects of demographic changes on the economy of South Asia.  Asia has been mentioned as one of the regions experiencing the most rapid demographic changes in the world. For instance, in the 20th century, the region had a mortality and fertility rate that was higher than the world’s average. However, the region has gradually experienced various demographic changes in its population structures a good example being the transition between high rates of fertility to a diminishing fertility rate. As a result of such changes, this paper argues that there is the element of demographic dividend in the South Asian countries that is affecting the region’s economy. The phenomena can be attributed to a large cohort of the younger generation that is entering the prime age of working and investing. Also, the paper outlines five other key forces that characterize the demographic dividend. They include a drastic increase in the labor force as baby boomers start entering the working age, ability of the society to divert resources, significant rise in the women workforce, accumulation of physical and human capital and technology improvements, and the boost to savings. A result of these factors is a positive economic growth. However, other factors that determine the variations and economic growth of the region such as migration are discussed.  Usually, Migration increases dependency ratios as more of young labor is moved to other nations and countries such as Sri Lanka have had significant changes in their population due to migration that has affected its economy. Basically, by discussing the South Asian demographics, economy, population, poverty, and immigration, I argue that demographic changes have profoundly influenced the South Asia economy.

 

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The effects of demographic changes on the economy of South Asia

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