The economic consequences of demographic change in East Asia

The reform in Asian financial sectors--especially in banking and stock markets--has been remarkable since the currency crisis of 1997-98. Bringing together authors from various East Asian and Pacific nation, this volume examines the institutional factors influencing finacial innovation, the consequences of financial development, widespread consolidation occurring through mergers and acquisitions, and the implementation of policy reform. This volume offers comparative analysis from twelve countries and examines the issue of age in the labor force. Contributors analyze the relationship between incentives to retire and the proportion of older persons in the workforce, the effects that reforming social security would have on the employment rates of older workers, and how extending labor force participation will affect program costs. Dispelling the myth that employing older workers takes jobs away from the young, this timely volume challenges existing assumptions about the relationship between old and young people in the workforce. In less than three decades, China has grown from playing a negligible role in world trade to being one of the world's largest exporters, a substantial import