The Economic Life Cycle and Support Systems in Asia

Date: October 2011
Type: Papers and Briefs
Subject:
Series: Economics Working Papers
ISSN: 1655-5252 (print)
Author: Lee, Sang-Hyop; Mason, Andrew

Description

This paper finds that family transfers remain a significant source of old-age income support in many Asian economies. Since public transfers are still relatively underdeveloped, the region has an opportunity to build sound transfer systems free from unsustainable obligations. A healthy degree of reliance on asset accumulation can also support living standards via capital deepening.

Contents

  • Abstract
  • Introduction
  • Labor Income
  • The Age Reallocation System
  • Relying on Assets
  • Fiscal Effect of Population Age Structure
  • Support Systems and the Response to Population Aging
  • Conclusions
  • References