Using international data starting 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points when their per capita incomes...

We review the growth experience of middle-income countries. Economic factors associated with growth appear to differ between middle income and other countries. The efficiency of the financial system is importantly related to the growth rate in low- and middle-income countries, but appears to...

Technological progress may be less beneficial for older workers than younger workers. In this paper, we empirically examine the impact of technological change on the wage share of older workers. More specifically, we look at five different types of technological advancement using data from 30...

Using international data starting in 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points, when their per capita...

The demographic dividend that contributed substantially to economic growth in developing Asia in the past is dissipating. Population aging affects growth through savings, capital accumulation, labor force participation, and total factor productivity. We examined the impact of aging on those four...

While there are growing concerns about population aging, some studies explore the possibility that population aging can give rise to a silver dividend which contributes to economic growth [AEIR (2019)]. Whereas the demographic dividend refers to the increase of the working-age population, the...