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AGING AND SAVING IN ASIA
Author(s) -
Horioka Charles Yuji
Publication year - 2010
Publication title -
pacific economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.34
H-Index - 33
eISSN - 1468-0106
pISSN - 1361-374X
DOI - 10.1111/j.1468-0106.2009.00489.x
Subject(s) - population ageing , economics , china , population , spell , investment (military) , government (linguistics) , development economics , population decline , demographic economics , geography , demography , political science , linguistics , philosophy , archaeology , sociology , politics , anthropology , law
Abstract In this paper, I analyse the impact of population aging on saving in Asia (with emphasis on Japan and China) and obtain the following findings: population aging will lead to declines in household, private, government and national saving rates, but to the extent that population aging is accompanied by absolute declines in population, investment rates will also decline. Moreover, countries always have the option of borrowing from abroad because all countries, even within the Asian region, will presumably not show simultaneous declines in saving. Therefore, the decline in saving caused by population aging will not necessarily spell disaster.