Is the demographic dividend an education dividend?
Jesús Crespo Cuaresma1, Wolfgang Lutz, Warren Sanderson
1Wittgenstein Centre for Demography and Global Human Capital (IIASA, VID/ÖAW, WU), Vienna University of Economics and Business, Welthandelsplatz 1, 1020, Vienna, Austria, jcrespo@wu.ac.at.
Demography
|December 5, 2013
Summary
Changes in a country's age structure do not directly boost labor productivity. Instead, improvements in education are the primary driver of economic growth, suggesting the "demographic dividend" is largely an "education dividend."
Area of Science:
- Demography
- Population Economics
- Economic Growth
Background:
- The
- The
Purpose of the Study:
- To reassess the empirical evidence on the relationships between economic growth, age structure dynamics, labor force participation, and educational attainment.
- To investigate the role of human capital in the context of the demographic dividend.
Main Methods:
- Analysis of a global panel of countries.
- Statistical control for human capital dynamics (educational attainment).
Main Results:
- No significant evidence found that changes in age structure directly impact labor productivity.
- Educational attainment is identified as the key factor driving productivity and income growth.
Conclusions:
- The widely recognized
- Policy implications suggest prioritizing investments in education to foster economic development and maximize the
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