Technology will create ageing a ‘silver dividend’ for Asian economies: ADB report

Ageing populations can be a boon to economies within the Asia and Pacific region if governments adopt technology policies that improve aged people’s health, extend skills and dealing lives, and facilitate job matching, per a brand new report from the Asian Development Bank (ADB).

According to a promulgation issued by the bank on Wed, the Asian Economic Integration Report 2019/2020 (AEIR): Demographic amendment, Productivity, and also the Role of Technology reviews Asia and also the Pacific’s progress in regional cooperation and integration.

The report contains a special chapter on the role and potential of technology in boosting the productivity of ageing economies.

“The ageing trend is irreversible in a lot of of Asia and also the Pacific, however governments may flip that into a ‘silver dividend’,” aforementioned ADB Chief social scientist Yasuyuki Sawada. “Today’s aged ar higher educated and healthier than within the past. the correct policies on technologies may extend operating lives, generating a considerable contribution to the economy.”

According to the report, the common healthy era enhanced by nearly seven years from fifty seven.2 to 63.8 years between 1990 and 2017 for the economies in Asia and also the Pacific. the common years of education among fifty five to 64-year-old folks additionally enhanced from four.6 in 1990 to seven.8 in 2015.

It aforementioned the precise measures that ought to be taken depend upon Associate in Nursing economy’s specific ageing and education profile that can be one in every of four broad types: quick or slow ageing and higher than or below median education levels.

“Countries that ar quick ageing and have above-median education levels would have the benefit of adopting automation and labour augmenting technology to supplement the low provide of labour for routine work, whereas countries with slow ageing and below-median education levels may grade technical applications in education to assist a younger population access high-quality education,” the statement aforementioned.

Regardless of the ageing and education profiles, the report involves a rethink of education and skills coaching to incorporate long learning still because the adoption of technologies and approaches to form work and workplaces additional appropriate for older staff. Labour market, social insurance, and legal system reform would additionally encourage older folks to continue operating, per the report.

Additionally, “policies that ease the movement of capital, labour, and technology across borders would be helpful to assist countries at completely different stages of demographic transition and technological adoption to cope,” the promulgation aforementioned.

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