The Nexus of Demographic Dividends and Labor Productivity in ASEAN Countries

Date

6-2023

Degree

Bachelor of Science in Economics

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Maria Luisa G. Valera

Committee Member

Jefferson A. Arapoc, Gideon P, Carnaje, Agham C. Cuevas

Abstract

Population dynamics play an important role in explaining the successful growth of developed Asian countries. With the ASEAN – 6 region currently experiencing a window of opportunity to prosper development through an occurring demographic dividend, this study provides an analysis of the linkage between demographic and economic variables affecting labor productivity growth. This study examined the behavior of different economic and population indicators of the ASEAN – 6 countries which include Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam across 49 years from 1971 – 2019.

Utilizing a Feasible Generalized Least Squares Panel Regression allowed for studying the effects of different growth and demographic variables on labor productivity growth. The results indicate that the ASEAN – 6 countries can optimally reap the benefits of demographic dividends and increase labor productivity growth through investing in the middle (30 – 49 years old) and old working-age population (50 – 64 years old). Furthermore, capital deepening is revealed to be a significant driver of labor productivity growth. While openness to trade, gross fixed capital formation, and fertility rates are found to be detrimental to the labor productivity growth of the selected countries. Given the findings, it is suggested that policymakers consider capital investments, revisit trade terms and agreements, and formulate fertility-controlling policies.

Language

English

LC Subject

Labor Productivity

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993.5 2023 E2 H57

Notes

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Document Type

Thesis

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