@article{MAKHILLJET202014228573,
    title = {Lessons for India on Demographic Dividend: Experiences of China, South Korea and Brazil},
    journal = {Journal of Economics Theory},
    volume = {14},
    number = {2},
    pages = {8-17},
    year = {2020},
    issn = {1994-8212},
    doi = {jeth.2020.8.17},
    url = {https://makhillpublications.co/view-article.php?issn=1994-8212&doi=jeth.2020.8.17},
    author = {Richika},
    keywords = {Demographic dividend,demographic transition,economic growth,dependency ratio,Brazil,South Korea,China,India,Human capital,female labor},
    abstract = {The phenomenon of demographic dividend
signals transition of a country characterized by minimal
use of technology, low level of education and low
economic growth having high birth and death rates to an
industrialized nation with advanced technology, higher
literacy level and income growth having low birth rates
and low death rates. The existing scientific literature
confirms that now developed nations were able to
successfully exploit their demographic dividend and
translate it into sustained economic growth and improved
standard of living. The birth rates and death rates are
affiliated to and correlate with accompanying stages of
manufacturing growth. The objective of this study is to
review the experience of three countries in exploiting their
demographic dividend and map out the lessons that India
can implement to benefit from this window of
opportunity. The countries selected for examination are
the Republic of Korea, Brazil and China. The nations
selected had varied success in unlocking the demographic
dividend. South Korea along with other Asian tiger
economies has successfully utilized both first and second
demographic dividend. With sustained investment in
health and education along with increasing women’s
participation in the labor force and utilizing increased
saving rates for capital accumulation, it was successful in
leveraging its demographic dividend for economic
development. China too greatly benefitted from its first
demographic dividend becoming the ‘factory of the
world’. Comprehensive planning and its effective
implementation along with an export-oriented growth
strategy led to accelerated economic growth. With an
aging population and the demographic effects of the
one-child policy, China’s ability to capitalize on the
second demographic dividend in the future is not certain.
Brazil on the other has failed to take advantage of its
favorable demographic transition. With misplaced
priorities and the absence of determined policy action to
manage its demographic transition, Brazil has left itself
vulnerable to demographic ‘disaster’ instead. The paper
concludes that demographic dividend is not a guaranteed
event for a country. To successfully benefit from
demographic dividend a country needs conducive policy
planning and investment in the development and
utilization of the country’s human capital. India also
needs to correct the problem of ‘missing women’ in its
labor force. It needs to empower local public
administration to ensure efficient public services and
fostering local opportunities. Also, India should have
the foresight to formulate a comprehensive economic
and social strategy to ensure a smooth demographic
transition from a young country to a middle-aged
one. A country’s success with demographic dividend
ultimately needs integrated demographic, political,
economic and, social policies altered a country’s
requirements.}
    }