Demographic Sweet Spot and Dividend in the Philippines: The Window of Opportunity is Closing Fast

No. of pages: 34

Publication date: 15 October 2015

Author: Dr. Dennis S. Mapa

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In the last 60 years, the age structure of the population has been rapidly changing in most countries all over the world and this phenomenon, given the right economic policies in the labor market, health, governance and economy, has created a rare window of opportunity for countries to experience rapid economic growth over a relatively long period. The idea behind this link between population dynamics (or changing age structure) and economic development is the demographic transition. The demographic transition is described as a change from a situation of high fertility and high mortality to one of low fertility and low mortality. A country that enters into a demographic transition experiences sizable changes in the age distribution of the population. The changes in the age structure are foreseeable consequence of the demographic transition. These changes, coupled with the right policies, affect economic growth.