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Ageing population
An ageing population is one in which the share of people at older ages is rising. It is driven mainly by falling fertility, which narrows the base of the population pyramid, and reinforced by longer survival, which widens its top. The number of younger people need not fall, because a population can age while its child numbers are still growing, as across much of Africa.
Demographic dividend
The demographic dividend is the faster economic growth a country can obtain during the period when a sustained fall in fertility has shrunk the child dependency ratio faster than the old-age ratio is rising, so the working-age share of the population is unusually high. The favourable age structure is a window of opportunity, not a guarantee: the growth is realized only where jobs, education and health provision absorb the working-age cohort, and the window closes as that cohort ages.
Dependency ratio
The dependency ratio measures the proportion of dependents (people aged below 15 and above 65) to the working-age (economically active) population (15–64).
Older dependency ratio measures the proportion of old dependents (people aged above 65) to the working-age (economically active) population (15–64).