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Economic implications of population ageing 

Economic implications of population ageing
Economic implications of population ageing

Andrew Mason

and Ronald Lee

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date: 27 January 2022

For decades to come, population ageing will be one of the most important long-term trends affecting the economies of high-income and many developing countries. Government budgets are threatened as growth in revenue declines and growth in spending, particularly on pensions and healthcare, rises. The effects of ageing on the public sector are less important, however, than the effects on economic growth and standards of living. Slow growth in the working-age population is a serious concern, but three other ageing-related changes will have favourable effects. First, people are healthier and can extend their working lives. Second, older societies will be wealthier with ample resources available to fund needed investment. Third, smaller cohorts of workers will have benefitted from higher spending on their health and education. The decline in numbers may be more than offset by the increase in their productivity.

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