Chronicle of a decline foretold: has China reached the Lewis Turning Point? / Mitali Das and Papa N'Diaye
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Bibliographische Detailangaben
1. Verfasser: Das, Mitali (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: [Washington, D.C.] International Monetary Fund c2013
Schriftenreihe:IMF working paper WP/13/26
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Online-Zugang:Volltext
Beschreibung:Title from PDF title page (IMF Web site, viewed Feb. 4, 2013). - "Research Department and Asia and Pacific Department.". - "January 2013."
"China is on the eve of a demographic shift that will have profound consequences on its economic and social landscape. Within a few years the working age population will reach a historical peak, and then begin a precipitous decline. This fact, along with anecdotes of rapidly rising migrant wages and episodic labor shortages, has raised questions about whether China is poised to cross the Lewis Turning Point, a point at which it would move from a vast supply of low-cost workers to a labor shortage economy. Crossing this threshold will have far-reaching implications for both China and the rest of the world. This paper empirically assesses when the transition to a labor shortage economy is likely to occur. Our central result is that on current trends, the Lewis Turning Point will emerge between 2020 and 2025. Alternative scenarios - with higher fertility, greater labor participation rates, financial reform or higher productivity - may peripherally delay or accelerate the onset of the turning point, but demographics will be the dominant force driving the depletion of surplus labor"--Abstract
Includes bibliographical references (p. 19-20)
Beschreibung:1 Online-Ressource (1 online resource (21 p.)
ISBN:9781475594058
1475594054
1475525192
9781475525199

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