Development Report argues, decent work is Development Goals on ensuring women’s full essential for youth to get a productive start in participation and equal opportunities for leadtheir lives, to make the best use of a large work- ership in all levels of economic, political and force and to help meet the needs of the elderly. public decision-making.4 There are multiple avenues to link economic objectives with the generation of enough decent Deepen regional integration. Considerable jobs. These might include fostering employ- diversity in demographic patterns across Asia-Pament-intensive sectors, particularly, in the short cific countries is a rationale for improved regional term, those best equipped to absorb the current integration. Current forms of cooperation focus workforce. Private sector development is critical, mainly on trade among countries. But taking and in many countries rests on greater ease of demographic considerations on board recognizes doing business and sound property rights regimes, that many relevant issues cross national borders. with special emphasis on small and medium Demographic differences among sub-regions enterprises that typically deliver most employ- could be harnessed to enhance financial and ment. An inclusive and deeper financial sector, labour integration, and increase prospects for all which effectively mobilizes savings, channels countries in the region to capture demographic them into productive investment, and fosters dividends. entrepreneurship, innovation and productivity One priority issue might be migration, since is another priority. countries at different stages of transition have different workforce profiles. Ageing societies Unleash the potential and power of women. The may struggle to find workers, while those in the region’s record on gender equality is still poor, earliest stages of transition may face a surplus. despite advances in some countries. Among Cooperation might prove beneficial in easing world regions, the highest pay gaps are in South imbalances and developing organized strategies Asia, where women earned a full third less than for migration that are beneficial to migrants as men from 2008 to 2014.2 This is a loss in terms well as sending and receiving countries. Freer of meeting internationally agreed human rights movement for work would include more flexible standards. It is also a serious impediment to visa regimes and should entail strong protections making the most of demographic transition for migrants’ safety and rights. and advancing human development. Gender Another priority might be financial integraequality should be understood as an immediate tion. East Asian countries, where high savings policy priority of central importance not just have been made possible in part by favourable for women, but for societies and economies demographic in the last few decades, are looking as a whole, since women are key to increasing for opportunities to invest. South Asian countries, labour force participation and employment rates with a large share of working-age people, might as well as productivity. need to attract increased capital inflows because Countries need to review the variety of of their relatively large labour pools and potential barriers to women, even in highly developed for productivity growth. Cross-border coopercountries. These may include laws that require ation will be crucial as well in filling deficits women to retire at earlier ages than men, despite in infrastructure. Among cities, it could help longer lifespans. 3 They might involve social define and coordinate comparative advantages norms and practices that tolerate gender-based in order to reduce unsustainable competition for violence, even if it is against the law. resources and foreign direct investment, among Most countries in the region still have far other concerns. to go in integrating women fully into political Since all countries will pass through demoand economic decision-making. The continuing graphic transition, there may also be scope to gap reduces the likelihood that policies and cooperate in learning from each other, across plans will fully support women to realize their countries at the same as well as different stages. rights, cultivate capabilities and make powerful As transition proceeds quickly, while policy and contributions to development. All countries need institutional structures to manage it typically to work to achieve the target in the Sustainable evolve more slowly, countries in the region need
Demographic differences among subregions could be harnessed to enhance financial and labour integration
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