Thanks to Dave Gardener for this article.
It has often been said that a huge population with a large number of youth is an advantage to a country because this is a good source of labor and consumers.
However, two professors from the University of the Philippines refuted the claim, stressing the negative effects on the economy, especially in the household-savings rate.
Professors Dennis Mapa and Kristine Joy Briones from the University of the Philippines in Diliman said, “The high proportion of young dependents creates a negative effect in the aggregate household savings, which results in the decrease in the overall household-savings rate,” in their paper, “Population Dynamics and Elderly Saving: An Econometric Analysis,” presented at the recent National Academy of Science and Technology’s Annual Scientific Meeting.
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