Social Security On Labor Markets to Address the Aging Population in Selected ASEAN Countries

The world is becoming older, and aging in the developing countries of the ASEAN region is unfolding faster than most developed countries in the United States and Europe. This paper examined the effectiveness of old age income security programs mandated in selected ASEAN countries. These programs sought to address the aging problem to encourage the government to promote the aging labor force's efficiency and increase labor force productivity. Furthermore, the study examined the effect of old-age dependency, increase in the life expectancy, and GDP per capita on labor force productivity using a panel data set from selected ASEAN countries from various income brackets, specifically Malaysia, Singapore, Thailand, and Vietnam, which are also classified as yellow group nations that are in the process of the demographic dividend implementation. Using the Multiple Regression Model, the researchers found out that the Old-Age Dependency Ratio positively impacts Labor Force Participation Rate. However, GDP per Capita, Life Expectancy, and the Non-contributory fund decrease the Labor Force Participation Rate.

The Life Cycle Hypothesis and Uncertainty: Analyzing Aging Savings Relationship in Tunisia

This research empirically checks the effect of uncertainty on aging-saving link that is indirectly captured by an auxiliary variable: the unemployment. It looks at the nexus population aging and savings by bringing out the unemployment context importance in determination saving behavior notably in a setting of unavailability of unemployment allowance. To better estimate population aging, it considers the old-age dependency ratio besides the total dependency one, which is the usually indicator used. Applying the Structural VAR model, the variance decomposition technique and the response impulse function, on Tunisia during 1970–2019, it puts on show that elderly do not dissave in a context of enduring unemployment and unavailability of unemployment allowance. Unemployment is an important factor able to shaping the saving behavior and to distort the life cycle hypothesis’s prediction. Consequently, the life cycle hypothesis cannot be validated under uncertainty. Hence, aging does not to alter savings systematically. The nature of aging-saving relationship is upon to social and economic context.

A threshold-free approach with age-dependency for estimating malaria seroprevalence

Background In malaria serology analysis, the standard approach to obtain seroprevalence, i.e the proportion of seropositive individuals in a population, is based on a threshold which is used to classify individuals as seropositive or seronegative. The choice of this threshold is often arbitrary and is based on methods that ignore the age-dependency of the antibody distribution. Methods Using cross-sectional antibody data from the Western Kenyan Highlands, this paper introduces a novel approach that has three main advantages over the current threshold-based approach: it avoids the use of thresholds; it accounts for the age dependency of malaria antibodies; and it allows us to propagate the uncertainty from the classification of individuals into seropositive and seronegative when estimating seroprevalence. The reversible catalytic model is used as an example for illustrating how to propagate this uncertainty into the parameter estimates of the model. Results This paper finds that accounting for age-dependency leads to a better fit to the data than the standard approach which uses a single threshold across all ages. Additionally, the paper also finds that the proposed threshold-free approach is more robust against the selection of different age-groups when estimating seroprevalence. Conclusion The novel threshold-free approach presented in this paper provides a statistically principled and more objective approach to estimating malaria seroprevalence. The introduced statistical framework also provides a means to compare results across studies which may use different age ranges for the estimation of seroprevalence.

Ageing Population's Impact on Economic Growth in Malaysia From 1981 to 2019: Evidence From an Autoregressive Distributed Lag Approach

This study investigates the impact of the ageing population on the economic growth for short- and long-run estimations in Malaysia, by using time series data from 1981 to 2019. This study adopts the autoregressive distributed lag (ARDL) method with the Bound test approach for the long-run estimation and the vector error correction model for the short-run estimation. Several econometric diagnostic tests were applied for validation and the appropriate model specification basis. The estimated result of this work indicates that the age dependency ratio proxy for the ageing population variable has a significant negative impact on economic growth in Malaysia. A 1% increase in old age dependency will decline gross domestic product's (GDP's) growth by an average of 6.6043% at the 5% level of significance. Hence, an increase in the ageing population will impede economic growth. Although controlled variables (e.g., physical capital, labour participation, and human capital) have a significant positive impact on economic growth in Malaysia, there is evidence of a long- and short-run relationship between economic growth and the ageing population variable, and also the control variable.

How does Human Capital Heterogeneity Affect Chinese Enterprises' Direct Investment in Africa?

Is human capital heterogeneity a decisive factor for Chinese enterprises to invest in Africa? Based on the Outward Foreign Direct Investment (OFDI） data of Chinese enterprises in 37 African countries from 2007 to 2017, this paper using the FGLS model, is the empirical analysis of the mechanism and effect of the human capital heterogeneity of host countries on OFDI location selection. The human capital heterogeneity can be divided into four dimensions: scale, quality, cost and structure, which can be measured by health level, education level, wage level, child dependency ratio and old-age dependency ratio. The results show that: (1) the host country's human capital scale and child dependency ratio structure have a significant positive impact on decision-making for OFDI; (2) the cost of human capital and the structure of old-age dependency ratio are negatively correlated with the inflow of OFDI; (3) different from the existing conclusions, the quality of human capital will inhibit the inflow of OFDI in the sample period; (4) the extended test shows that the quality of human capital has a significant positive impact on OFDI decision-making. The results of robustness test are reliable. Finally, according to the conclusion of this paper, policy recommendations are put forward.

Policy Brief For “Flexible Aging: New Ways To Measure The Diverse Experience Of Population Aging In Scotland

This ESRC-SDA funded project took a demographic approach using new metrics to studying population ageing. Key project findings mentioned in Policy Brief:• Until now, most notions of dependency are false.• As an average, the UK population is younger rather than older compared to 1950.• Old age dependency has declined rather than increased since 1980 as life expectancy at older ages and female labour force participation have increased.

Impact of COVID-19 on Ageing and Retirement System: Key Policy Considerations

The authors attempt to conduct interdisciplinary research in epidemiology demography and pension economics. A literature was selected upon its relevance to the following key words: COVID-19, ageing and retirement system. The following methods are used: Historical content analysis, information, and analytical, comparative analysis. The analysis part is mainly based on secondary data of Committee on Statistics of the Republic of Kazakhstan and world recognized institutions’ reports such as World Health Organization, United Nations and World Bank. In the demographic analysis the traditional and alternative indices of population ageing such as Old Age Dependency Ratio (OADR) and Prospective Old Age Dependency Ratio (POADR) were widely used. By August 5, 2020, Kazakhstan has 94,882 registered cases of CVI, 67031 people recovered and 1058 deaths. Confusion in the demographic statistics of COVID-19 cases showed all the shortcomings. Even though the OADR and POADR ratios are rising in accordance with UN forecast, the global pandemic will adjust the population ageing, since the mortality of the elderly population from this disease is higher than in other age groups. The Kazakhstani retirement system has been suffered by the COVID-19 as well. Human losses, income poverty and increase in pension costs put a burden on state budget. The research presents recommendations on supporting measures in several directions that need to be taken by policy makers during post COVID-19 period in retirement system.

Effects of Age Dependency and Urbanization on Energy Demand in BRICS: Evidence From the Machine Learning Estimator

This paper examines the effects of age dependency ratio (the young age, old-age and overall age) and urbanization on renewable and non-renewable energy consumption in Brazil, India, China, and South Africa, considering the panel data from 1990 to 2019. We control economic growth and foreign direct investment inflows as key factors in the energy demand function using the Stochastic Impacts by Regression on Population, Affluence and Technology approach. Empirical analysis has been implemented using the Kernel Regularized Least Squares machine learning method to solve possible classification problems in the traditional regressions without relying on the linearity assumption. It is observed that the young age dependency, overall age dependency, and urbanization negatively affect both renewable and non-renewable energy demand. On the contrary, old-age dependency and economic growth are positively associated with renewable and non-renewable energy demand. The mixed effects of foreign direct investment inflows on renewable and non-renewable energy demand patterns are also found. Thus, the findings suggest that environment policymakers in the BRICS economies should prioritize urbanization, young age, and overall age population to improve energy efficiency.