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Age and education effects in Singapore’s demographic dividend 1970–2020

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  • Choo, Eddie
  • Gee, Christopher

Abstract

Singapore had experienced rapid GDP growth from the period of 1970-2020. This work is adds to the overall contribution in studies understanding the contribution of age and education effects in the demographic dividend for countries, in this case – for a small, rapidly-developing country in Asia that had achieved high-income status. Following Rentería et. al. (2016), we use the Das Gupta decomposition technique to decompose Singapore’s demographic dividend to the respective age effect and education effect. We do this, having derived labour income and consumption profiles by age and education attainment, using National Transfer Account (NTA) methodology. We find that for Singapore the education effect was larger than the age effect for the entire period, driven by the education effect on labour income. These findings are comparable to Rentería et. al. (2016) for Mexico and Spain where the education effect were also larger than the age effect. Understanding the contributions of age and education effects on the economic support ratio will have policy implications as Singapore continues to age rapidly. This work also adds to the perspective on the importance of building up human capital in sustaining the demographic dividend.

Suggested Citation

  • Choo, Eddie & Gee, Christopher, 2024. "Age and education effects in Singapore’s demographic dividend 1970–2020," The Journal of the Economics of Ageing, Elsevier, vol. 27(C).
    • Handle: RePEc:eee:joecag:v:27:y:2024:i:c:s2212828x23000427
    DOI: 10.1016/j.jeoa.2023.100482
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    References listed on IDEAS

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    1. Wolfgang Lutz & Jesus Crespo Cuaresma & Endale Kebede & Alexia Prskawetz & Warren C. Sanderson & Erich Striessnig, 2019. "Education rather than age structure brings demographic dividend," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 116(26), pages 12798-12803, June.
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    7. Rainer Kotschy & Patricio Suarez Urtaza & Uwe Sunde, 2020. "The demographic dividend is more than an education dividend," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 117(42), pages 25982-25984, October.
    8. Jesús Crespo Cuaresma & Wolfgang Lutz & Warren Sanderson, 2014. "Is the Demographic Dividend an Education Dividend?," Demography, Springer;Population Association of America (PAA), vol. 51(1), pages 299-315, February.
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    1. Jingyi Qin & Qingyu Xu, 2024. "The Impact of the Digital Economy on Population Dividends in China: Based on the Dual Perspective of Quantity and Quality," Sustainability, MDPI, vol. 16(10), pages 1-23, May.

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