From Demographic Burdens to Dividends: Implications for Financial Inclusion

Demographic dividends are usually explained in terms of higher population growth in emerging markets leading to an expanding working age population This in turn means that the society can benefit from having more people who are both able to work as well as eager to consume. However, neither high population growth nor a great amount of young people can on their own deliver better economic performance. Without adequate investment in educating, providing health care for the young and sufficient investment in the economy to generate productive employment, youth unemployment and underemployment with all the associated social and political problems is the consequence. So the challenge is how to ensure that the expanding young population in the developing countries is converted into demographic dividends. Financial inclusion is an important part of that, since its benefits are not just economic, but social and political as well.

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