Demographic Change in Uruguay : Economic Opportunities and Challenges
Uruguay’s population is slowly aging, driven by the demographic transition that started early in the 20th century. While this reflects significant improvements in mortality and fertility trends, it also creates important challenges for the fiscal sustainability of some social policies and for sust...
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| Language: | English en_US |
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Washington, DC: World Bank
2016
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| Online Access: | http://hdl.handle.net/10986/24358 |
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okr-10986-243582021-04-23T14:04:22Z Demographic Change in Uruguay : Economic Opportunities and Challenges Rofman, Rafael Amarante, Verónica Apella, Ignacio Rofman, Rafael Amarante, Verónica Apella, Ignacio DEMOGRAPHIC TRANSITION FIRST DIVIDEND SECOND DIVIDEND WINDOW OF OPPORTUNITIES LABOR MARKET PRODUCTIVITY SOCIAL PROTECTION LIVE CYCLE DEFICIT HEALTH SYSTEM POPULATION AGING Uruguay’s population is slowly aging, driven by the demographic transition that started early in the 20th century. While this reflects significant improvements in mortality and fertility trends, it also creates important challenges for the fiscal sustainability of some social policies and for sustaining medium- and long-term economic growth. Uruguay is going through the “demographic dividend” stage of this process as the proportion of the population ages 15–65 peaks. This temporary situation creates the possibility of increasing the endowment of capital and the labor force and sparking sustained economic growth. For this to happen, institutional, financial, and fiscal conditions are needed that promote larger savings and investment. Demographic Change in Uruguay: Economic Opportunities and Challenges studies the opportunities and challenges that the demographic transition poses for Uruguay’s economy. Once the demographic dividend has passed, population aging will have a significant impact on fiscal accounts, especially in social protection expenditures. This is a serious policy challenge, demanding reforms to adapt the institutions and systems to a new demographic context. The main challenge in the next few decades will be to maintain economic growth on a solid path as the working-age population declines. This will require that labor force participation rates increase, particularly among women and older people, but will also require that those in the labor market increase their productivity. This will be achieved only through sustained growth of the capital per worker ratio and the incorporation of innovations and technological developments that facilitate increased production of goods and services for the entire population. 2016-05-26T18:51:16Z 2016-05-26T18:51:16Z 2016-05-26 Book 978-1-4648-0844-9 http://hdl.handle.net/10986/24358 English en_US Directions in Development--Human Development; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Publication Uruguay |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
DEMOGRAPHIC TRANSITION FIRST DIVIDEND SECOND DIVIDEND WINDOW OF OPPORTUNITIES LABOR MARKET PRODUCTIVITY SOCIAL PROTECTION LIVE CYCLE DEFICIT HEALTH SYSTEM POPULATION AGING |
| spellingShingle |
DEMOGRAPHIC TRANSITION FIRST DIVIDEND SECOND DIVIDEND WINDOW OF OPPORTUNITIES LABOR MARKET PRODUCTIVITY SOCIAL PROTECTION LIVE CYCLE DEFICIT HEALTH SYSTEM POPULATION AGING Rofman, Rafael Amarante, Verónica Apella, Ignacio Demographic Change in Uruguay : Economic Opportunities and Challenges |
| geographic_facet |
Uruguay |
| relation |
Directions in Development--Human Development; |
| description |
Uruguay’s population is slowly aging, driven by the demographic transition that started early in the
20th century. While this reflects significant improvements in mortality and fertility trends, it also creates
important challenges for the fiscal sustainability of some social policies and for sustaining medium- and
long-term economic growth. Uruguay is going through the “demographic dividend” stage of this process
as the proportion of the population ages 15–65 peaks. This temporary situation creates the possibility of
increasing the endowment of capital and the labor force and sparking sustained economic growth. For
this to happen, institutional, financial, and fiscal conditions are needed that promote larger savings
and investment.
Demographic Change in Uruguay: Economic Opportunities and Challenges studies the opportunities and
challenges that the demographic transition poses for Uruguay’s economy. Once the demographic dividend
has passed, population aging will have a significant impact on fiscal accounts, especially in social protection
expenditures. This is a serious policy challenge, demanding reforms to adapt the institutions and systems to
a new demographic context. The main challenge in the next few decades will be to maintain economic
growth on a solid path as the working-age population declines. This will require that labor force participation
rates increase, particularly among women and older people, but will also require that those in the labor
market increase their productivity. This will be achieved only through sustained growth of the capital per
worker ratio and the incorporation of innovations and technological developments that facilitate increased
production of goods and services for the entire population. |
| author2 |
Rofman, Rafael |
| author_facet |
Rofman, Rafael Rofman, Rafael Amarante, Verónica Apella, Ignacio |
| format |
Book |
| author |
Rofman, Rafael Amarante, Verónica Apella, Ignacio |
| author_sort |
Rofman, Rafael |
| title |
Demographic Change in Uruguay : Economic Opportunities and Challenges |
| title_short |
Demographic Change in Uruguay : Economic Opportunities and Challenges |
| title_full |
Demographic Change in Uruguay : Economic Opportunities and Challenges |
| title_fullStr |
Demographic Change in Uruguay : Economic Opportunities and Challenges |
| title_full_unstemmed |
Demographic Change in Uruguay : Economic Opportunities and Challenges |
| title_sort |
demographic change in uruguay : economic opportunities and challenges |
| publisher |
Washington, DC: World Bank |
| publishDate |
2016 |
| url |
http://hdl.handle.net/10986/24358 |
| _version_ |
1764456736404537344 |