Digital transformation as a demographic and economic integrated policy for Southeast Asian developing countries

Rhee, Taehwan, Wood, Jacob, and Kim, Jungsuk (2022) Digital transformation as a demographic and economic integrated policy for Southeast Asian developing countries. Sustainability, 14 (5). 2857.

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Abstract

The age of Southeast Asian developing countries’ populations is still younger than that of other regions around the world. However, recent statistics show that the tide is now turning in this regard, with many of these populations beginning to age at rates much faster than many other countries. Such developments require immediate policy action in order to create a sustainable path towards economic growth before demographic changes become less benign in the medium term. In this study, we discuss the economic consequences of population aging, increases in the economic support ratio, and a declining potential growth rate. We argue that it is essential for Southeast Asian developing countries to raise total factor productivity (TFP) growth rates so as to achieve more sustainable economic outcomes. By conducting panel regressions using data from 82 countries across the 1996–2019 study period, our study shows that increasing research and development (R&D) spending and the facilitation of structural changes that transform the digital economy landscape are key policy options that promote TFP growth

Item ID: 72716
Item Type: Article (Research - C1)
ISSN: 2071-1050
Keywords: Southeast Asian developing countries; demographic transition; sustainable economic growth; digital economy
Copyright Information: Copyright: © 2022 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
Date Deposited: 17 Aug 2022 04:57
FoR Codes: 44 HUMAN SOCIETY > 4407 Policy and administration > 440703 Economic development policy @ 100%
SEO Codes: 15 ECONOMIC FRAMEWORK > 1502 Macroeconomics > 150203 Economic growth @ 100%
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