Fiscal Sustainability and Social Cohesion in the Face of Demographic Change

Initiative -
Type Think20 (T20)
Date 9 May 2020

Abstract

The Group of 20 (G20) countries are experiencing or starting to experience the impacts of demographic change on their economies. The reduced working population in the G20’s aging societies necessitates a social transition to maintain labor productivity and fiscal sustainability. Given this situation, this policy brief recommends four proposals to tackle the demographic challenges on the economy: 1) improve productivity through enhanced labor participation and investment in human capital; 2) Invest in education to prepare future generations; 3) strengthen fiscal frameworks to prepare young societies to deal with the demographic transition; and 4) develop comprehensive reform for public pension and healthcare schemes in the light of demographic changes.

Authors

Cian Mulligan

Senior Research Associate Cian contributes to the KAPSARC initiative on Productivity and Economic Diversification in Saudi Arabia. His current work focuses on economic… Cian contributes to the KAPSARC initiative on Productivity and Economic Diversification in Saudi Arabia. His current work focuses on economic diversification in Saudi Arabia, labor dynamics in GCC countries, gender employment gaps in the GCC, and policy recommendations for Saudi Vision 2030 goals. Before joining the center, he worked as an energy analyst in Vienna. Most recently, he served as the editor of Intereconomics Review of European Economic Policy in Hamburg, where he worked with academics all over the world to publish and promote diverse research topics for a policy-oriented readership.

Expertise

Labor Economics
Demography
Policy analysis.

Publications See all Cian Mulligan’s publications

COVID-19 and Employment in Saudi Arabia: An Initial Assessment

The Group of 20 (G20) countries are experiencing or starting to experience the impacts of…

28th May 2020