INSIGHTS INTO THE DEMOGRAPHIC DIVIDEND AND THE WINDOW OF OPPORTUNITY: A CONCEPTUAL OVERVIEW

Abstract

The demographic dividend is a concept that has been formalised to show the positive economic impact of demographic changes. It was coined by Bloom and Williamson (1998) when revealing the demographic contribution to the Asian economic miracle. However, the demographic dividend is a complex term, both conceptually and methodologically. After two decades of research, approaches remain diverse. In this article, we propose to discuss two different manners of interpreting the demographic dividend - the economic and the demographic. We argue that both are important tools for analyzing the impact of population on the economy and the support ratio indicator is as necessary as the economic support ratio in the analysis of the demographic dividend. In addition, the use of the window of opportunity concept, directly related to the demographic dividend, would create the integrative framework needed to identify and analyze the demographic impact on economic development.