Study cites demographics for region's rapid growth: changes in mortality and fertility rates help explain large part of the miracle, economists say

Article Abstract:

Harvard University senior economists Jeffrey G. Williamson and David E. Bloom attribute the Asian economic miracle to the region's mortality and fertility rates, underscoring the role of demographic shifts in economic development. The study by Williamson and Bloom notes that the demographic shift is responsible for Asia explosive economic growth, with its high proportion of worker population stirring up investments and savings rates. First to cash in on the demographic shifts are the countries in Northeast Asia, Malaysia, Singapore and Thailand, but growth in these countries are expected to level off due to the pressure of supporting an aging population. South Asia and the Philippines are the next regions that are expected to ride the demographic shift advantage.

Economic aspects, Demographic aspects, Asia, Demography

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Japan needs a small positive inflation target of 3% to accompany a new fiscal policy package

Article Abstract:

Japan's new fiscal policy package should have a tangible anchor with which to gauge the progress of economic reforms instead of allowing the economy to free-fall and set its own levels. A 3% inflation target through the year 2000 would be so small a target as to guide both businesses and policy makers in the conduct of business, but large enough to ensure that Japan's economic recovery is not hampered. Having the 3% inflation target eases both inflationary expectations and economic recovery objectives.

Analysis, Japan, Column, Economic policy, Inflation (Finance), Inflation (Economics)

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