Singapore had experienced rapid GDP growth from the period of 1970-2020. This work is adds to the overall contribution in studies understanding the contribution of age and education effects in the demographic dividend for countries, in this case – for a small, rapidly-developing country in Asia that had achieved high-income status. Following Rentería et. al. (2016), we use the Das Gupta decomposition technique to decompose Singapore’s demographic dividend to the respective age effect and education effect. We do this, having derived labour income and consumption profiles by age and education attainment, using National Transfer Account (NTA) methodology. We find that for Singapore the education effect was larger than the age effect for the entire period, driven by the education effect on labour income. These findings are comparable to Rentería et. al. (2016) for Mexico and Spain where the education effect were also larger than the age effect. Understanding the contributions of age and education effects on the economic support ratio will have policy implications as Singapore continues to age rapidly. This work also adds to the perspective on the importance of building up human capital in sustaining the demographic dividend.

中文翻译：

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年龄和教育对新加坡人口红利的影响 1970-2020

1970年至2020年期间，新加坡的GDP经历了快速增长。这项工作是对了解年龄和教育影响对国家人口红利的影响的研究的总体贡献的补充，在本例中，对于一个已实现高收入地位的快速发展的亚洲小国而言。继 Rentería 等人之后。等人。(2016)，我们利用Das Gupta分解技术将新加坡的人口红利分解为各自的年龄效应和教育效应。为此，我们使用国民转移账户 (NTA) 方法，根据年龄和教育程度得出了劳动收入和消费概况。我们发现，在整个时期，新加坡的教育效应大于年龄效应，这是由教育对劳动收入的影响所驱动的。这些发现与 Rentería 等人相当。等人。（2016）墨西哥和西班牙的教育效应也大于年龄效应。随着新加坡继续快速老龄化，了解年龄和教育对经济支持率的影响将对政策产生影响。这项工作还增强了人们对人力资本建设对于维持人口红利重要性的认识。