The Macroeconomic and Fiscal Impact of Aging in Thailand

This paper contributes to the existing literature in several ways. First of all, to the best of our knowledge this is the first paper to exclusively model and analyze the impact of aging on long-term growth in Thailand. Although there several studi...

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Main Authors:	Bandaogo, Mahama, Van Doom, Ralph
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2021
Subjects:	AGING DEMOGRAPHIC TRENDS FISCAL TRENDS MACROECONOMIC IMPACT PRIVATE SAVINGS CIVIL SERVICE PENSION SOCIAL SECURITY FUND OLD AGE ALLOWANCE PUBLIC DEBT LABOR FORCE PARTICIPATION RETIREMENT AGE PRODUCTIVITY LONG-TERM GROWTH MODEL
Online Access:	http://documents.worldbank.org/curated/en/341151622726665459/Labor-Markets-and-Social-Policy-in-a-Rapidly-Transforming-The-Macroeconomic-and-Fiscal-Impact-of-Aging-in-Thailand http://hdl.handle.net/10986/35692

id	okr-10986-35692
recordtype	oai_dc
spelling	okr-10986-356922021-06-23T05:11:19Z The Macroeconomic and Fiscal Impact of Aging in Thailand Bandaogo, Mahama Van Doom, Ralph AGING DEMOGRAPHIC TRENDS FISCAL TRENDS MACROECONOMIC IMPACT PRIVATE SAVINGS CIVIL SERVICE PENSION SOCIAL SECURITY FUND OLD AGE ALLOWANCE PUBLIC DEBT LABOR FORCE PARTICIPATION RETIREMENT AGE PRODUCTIVITY LONG-TERM GROWTH MODEL This paper contributes to the existing literature in several ways. First of all, to the best of our knowledge this is the first paper to exclusively model and analyze the impact of aging on long-term growth in Thailand. Although there several studies that have analyzed the relationship between aging and private saving in Thailand, this is the first to employ a cointegration analysis. This approach is more suitable given that we are interested in the long-term relationship between the two and the fact that demographic changes are slow. Moreover, this paper is the first most comprehensive study of the macroeconomic and fiscal impacts of aging in Thailand. Existing studies have focused on how aging impacts one variable (Pootrakool et al. 2005; IMF 2019). The rest of this paper is organized as follows. Section two presents an assessment of the impact of aging on macroeconomic variables. Section three analyzes how aging is likely to impact Thailand’s fiscal standing. Section four discusses various reforms that can help mitigate the negative impact of aging on long-term growth and fiscal sustainability and section five concludes. 2021-06-08T14:19:28Z 2021-06-08T14:19:28Z 2021-06 Report http://documents.worldbank.org/curated/en/341151622726665459/Labor-Markets-and-Social-Policy-in-a-Rapidly-Transforming-The-Macroeconomic-and-Fiscal-Impact-of-Aging-in-Thailand http://hdl.handle.net/10986/35692 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Other Social Protection Study East Asia and Pacific Thailand
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	AGING DEMOGRAPHIC TRENDS FISCAL TRENDS MACROECONOMIC IMPACT PRIVATE SAVINGS CIVIL SERVICE PENSION SOCIAL SECURITY FUND OLD AGE ALLOWANCE PUBLIC DEBT LABOR FORCE PARTICIPATION RETIREMENT AGE PRODUCTIVITY LONG-TERM GROWTH MODEL
spellingShingle	AGING DEMOGRAPHIC TRENDS FISCAL TRENDS MACROECONOMIC IMPACT PRIVATE SAVINGS CIVIL SERVICE PENSION SOCIAL SECURITY FUND OLD AGE ALLOWANCE PUBLIC DEBT LABOR FORCE PARTICIPATION RETIREMENT AGE PRODUCTIVITY LONG-TERM GROWTH MODEL Bandaogo, Mahama Van Doom, Ralph The Macroeconomic and Fiscal Impact of Aging in Thailand
geographic_facet	East Asia and Pacific Thailand
description	This paper contributes to the existing literature in several ways. First of all, to the best of our knowledge this is the first paper to exclusively model and analyze the impact of aging on long-term growth in Thailand. Although there several studies that have analyzed the relationship between aging and private saving in Thailand, this is the first to employ a cointegration analysis. This approach is more suitable given that we are interested in the long-term relationship between the two and the fact that demographic changes are slow. Moreover, this paper is the first most comprehensive study of the macroeconomic and fiscal impacts of aging in Thailand. Existing studies have focused on how aging impacts one variable (Pootrakool et al. 2005; IMF 2019). The rest of this paper is organized as follows. Section two presents an assessment of the impact of aging on macroeconomic variables. Section three analyzes how aging is likely to impact Thailand’s fiscal standing. Section four discusses various reforms that can help mitigate the negative impact of aging on long-term growth and fiscal sustainability and section five concludes.
format	Report
author	Bandaogo, Mahama Van Doom, Ralph
author_facet	Bandaogo, Mahama Van Doom, Ralph
author_sort	Bandaogo, Mahama
title	The Macroeconomic and Fiscal Impact of Aging in Thailand
title_short	The Macroeconomic and Fiscal Impact of Aging in Thailand
title_full	The Macroeconomic and Fiscal Impact of Aging in Thailand
title_fullStr	The Macroeconomic and Fiscal Impact of Aging in Thailand
title_full_unstemmed	The Macroeconomic and Fiscal Impact of Aging in Thailand
title_sort	macroeconomic and fiscal impact of aging in thailand
publisher	World Bank, Washington, DC
publishDate	2021
url	http://documents.worldbank.org/curated/en/341151622726665459/Labor-Markets-and-Social-Policy-in-a-Rapidly-Transforming-The-Macroeconomic-and-Fiscal-Impact-of-Aging-in-Thailand http://hdl.handle.net/10986/35692
_version_	1764483618828189696

The Macroeconomic and Fiscal Impact of Aging in Thailand

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