RIETI Open BBL Webinar

The Japanese Economy: Strategies to cope with a shrinking and aging population

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Announcement

Japan's total population is projected to fall by nearly one-fifth to around 93 million by 2060, while, the share of elderly (65 and older) rises from 28% to 39%. The elderly dependency ratio is forecast to reach 80%, reducing the number of working-age persons to 1.3 per elderly. If labor market entry and exit by age and gender remain constant, the labor force would contract by more than 30% by 2060. The rapid demographic shift threatens Japan’s ability to fulfil its commitment to provide universal health and long-term care and pensions for the elderly. Meeting the demographic challenge requires a comprehensive strategy:
・Mitigating the decline in the labor force by further increasing female employment, extending the careers of older persons and making greater use of older workers.
・Boosting labor productivity, which has fallen below the OECD average.
・Increasing the efficiency of health and long-term care.
・Implementing effective macroeconomic policies.

Information

  • Time and Date: 12:15-13:15, Wednesday, February 1, 2023 (JST)
  • Venue: Online
  • Language: English
  • Admission: Free
  • Host: Research Institute of Economy, Trade and Industry (RIETI)

Speakers

Speaker:
  • Randall S. JONES (Professional Fellow, Center on Japanese Economy and Business (CJEB) at Columbia University / Former Head of the Japan / Korea Desk at the OECD)
    Dr. Jones received the Decoration of the Order of the Rising Sun from the Government of Japan in 2016 and the Sungnye Medal of the Order of Diplomatic Service Merit from the Government of Korea in 2018. Currently, Dr. Jones is a professional fellow at Columbia University’s Center on Japanese Economy and Business, a non-resident distinguished fellow at the Korea Economic Institute and an adjunct lecturer at the Johns Hopkins School of Advanced International Studies. Previously, he was a visiting scholar at Columbia University in 2019-20. Dr. Jones served as the Senior Counsellor for East Asia and as Head of the Japan/Korea Desk at the Organization for Economic Cooperation and Development (OECD) in Paris from 2002 until 2019. During his 30 years at the OECD, Dr. Jones wrote all 16 OECD Economic Surveys of Korea and 15 OECD Economic Surveys of Japan, in addition to a number of other publications. Before joining the OECD in 1989, he spent three years in the US government, serving at the Council of Economic Advisers in the Executive Office of the President (1984-85), and as an advisor in the US State Department (1987-89). Dr. Jones was also the vice-president of the Japan Economic Institute in Washington (1985-87). Dr. Jones received a B.A. in Economics from Brigham Young University and a PhD in Economics from the University of Michigan in 1984. He lived in Korea from 1974 to 1976 and in Japan during 1982-83.
Commentator:
Moderator:
  • SABURI Masataka (Director, PR Strategy, RIETI / Special Advisor to the Minister, METI)