A Literature Review on Ageing Population in Selected Asian Countries

Abstract

This paper aims to provide an overview on the topic and impact of the ageing population on overall economy’s wellbeing in Japan, Malaysia, Singapore and South Korea. This topic undoubtedly significant to an individual, a community and a country as the ageing population shows an increasing trend but much steeper than it is forecasted decades ago. Japan is one of the pioneer countries and the first Asian country that face severe ageing population. But it has at least overcome the critical stage through various yet careful approaches in solving ageing problems. The post-effect of ageing still can be seen in Japan via significantly low economic growth. Other countries like Malaysia, Singapore and South Korea exhibits similar trends with an increase in the size of ageing population. But, most of the economists predict that Malaysia would have the hardest time facing this issue compared to Japan, Singapore and South Korea judging from its financial stability. Therefore proper and updated research is essential in keeping track with the changes in trends of ageing population as suggested by policymakers.
Keywords: ageing population, ageing process, gross domestic product (GDP), fertility rate, healthcare expenditure