Abstract and Keywords
Developed regions of the world have been experiencing population ageing for more than 40 years, and this trend is expected to continue for several decades. Furthermore, a growing number of developing countries will experience population ageing in the first half of the twenty-first century. Population ageing represents a major challenge that is unprecedented in human history: a shrinking working population is forced to support a growing number of economically inactive persons. This phenomenon gives rise to a multitude of pressing issues. This article addresses these problems, identifying what is known and what is not known. It particularly addresses two questions: first, how significant demographic ageing is; and second, whether there are any effective solutions. The article then deals with demographic trends and future prospects from global and regional perspectives. It examines the economic implications of population ageing and discusses pension-funding issues.
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