The Demographic Dividend and Economic Growth

by Zilolakhon Makhmonova


Abstract

According to the demographic transition theory, a country can reap the benefits of the demographic dividend throughout the period when working-age population is high whilst dependent population is low – enabling the country to have high levels of labor participation rates. The empirical literature on the effect of the demographic structure on economic growth was primarily concerned with the examination of the growth models using only working-age population share and overall dependency ratio as demographic variables. This research attempts to contribute to the literature by examining whether changes in decomposed dependency ratios (youth and old-age dependency ratios) are associated with changes in economic growth of 211 countries for the period of 1960-2015.


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