1.

Record Nr.

UNINA9910788521203321

Autore

Leigh Lamin

Titolo

Hong Kong Special Administrative Region : : Macroeconomic Impact of an Aging Population in a Highly Open Economy / / Lamin Leigh

Pubbl/distr/stampa

Washington, D.C. : , : International Monetary Fund, , 2006

ISBN

1-4623-8916-3

1-4527-5418-7

1-282-39210-7

9786613820532

1-4519-0882-2

Descrizione fisica

1 online resource (19 p.)

Collana

IMF Working Papers

Soggetti

Population aging - Economic aspects - China - Hong Kong

Age distribution (Demography) - China - Hong Kong

Public Finance

Production and Operations Management

Demography

Economics of the Elderly

Economics of the Handicapped

Non-labor Market Discrimination

Human Capital

Skills

Occupational Choice

Labor Productivity

Demographic Economics: General

Demographic Trends, Macroeconomic Effects, and Forecasts

National Government Expenditures and Health

Population & demography

Macroeconomics

Public finance & taxation

Aging

Labor productivity

Population and demographics

Demographic change

Health care spending

Population aging

Population

Demographic transition



Expenditures, Public

Hong Kong Special Administrative Region, People's Republic of China

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

"October 2006."

Nota di bibliografia

Includes bibliographical references.

Nota di contenuto

""Contents""; ""I. INTRODUCTION""; ""II. MACROECONOMIC EFFECTS OF AGING""; ""III. SIMULATIONS AND ANALYSIS""; ""IV. INITIATIVES TAKEN BY THE HONG KONG SAR AUTHORITIES TO ADDRESS POPULATION AGING""; ""V. CONCLUSIONS""; ""References""

Sommario/riassunto

Hong Kong SAR's population is aging rapidly. This paper concludes that, without a change in policies, aging could adversely affect growth and living standards. While higher labor productivity growth and increased migration of younger skilled workers from the Chinese mainland, would attenuate the economic impact of aging, they would not offset it fully. Aging will also put pressure on public finances, particularly as a result of rising health care costs. There is a relatively narrow window of opportunity to implement policies to lessen the impact of aging, given that the demographic effects could start setting in as early as 2015 when the working population's support ratio peaks. In recent years, the Hong Kong SAR authorities have been focusing on policies that could help limit the fiscal impact of aging, including continued expenditure restraint on non-age-sensitive areas, reform of health care financing (including introducing private health insurance system), and tax reforms.