veral decades but almost all countries will exper ience slower growth and

Veral decades but almost all countries will exper

This preview shows page 10 - 18 out of 18 pages.

veral decades, but almost all countries will exper ience slower growth and receive less of a direct d emographic benefit over the next 20 years Several mature countries, such as Japan and parts of Europe—with the United States as a notable exc eption —will experience outright labor force decl ines. In general, population growth will be faster in th e developing world—Latin America, parts of emergi ng Asia, the Middle East, and Africa. Labor force growth is flattening or declining in s everal emerging Asian economies, including China, South Korea, and Thailand
Image of page 10

Subscribe to view the full document.

Image of page 11
People the greater the human capital, the more productive the economy Human capital tends to be higher in the world’s w ealthiest regions, such as the United States, Japa n, and northern Europe. South Korea also has a hig h human capital ranking, and several emerging econ omies—including China, Turkey, and Indonesia—hav e made great strides. slower growth in the labor force has a direct nega tive impact on GDP growth
Image of page 12

Subscribe to view the full document.

Structure. higher complexity typically means higher productiv ity Greater variety and more sophisticated products in a country’s output signal a more complex economic structure Japan has the highest complexity ranking, while a number of African countries rank very low.
Image of page 13
Catch-up potential
Image of page 14

Subscribe to view the full document.

Aging Populations Dampen Labor Force Participation Rates
Image of page 15
Financial crises
Image of page 16

Subscribe to view the full document.

Model Results
Image of page 17
Image of page 18
  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes