Nexus between demographic dividend and economic growth: A systematic review with bibliometric exploration

Nusrat Jafrin; Abu Naser Mohammad Saif; Muhammad Mehedi Masud; Deboshree Ghosh; Meherun Nesa

doi:10.31893/multirev.2024182

Keywords:

Demographic Transition

Human Capital

age structure

VOSviewer

Abstract

Since every country is going through distinct stages of demographic change over different periods, the demographic dividend has become a prevalent issue in the domain of economic review. The influence of the demographic dividend on economic growth remains a subject of debate; therefore, it is opportune to reexamine this topic. This systematic review with bibliometric assessment aims to add augmented insights to the current body of knowledge on the nexus between demographic dividend and economic growth. Hence, a total of 427 published papers from both the Scopus and Web of Science databases were assessed using the updated PRISMA flow diagram to classify 24 relevant research publications. The bibliometric data from the 24 related articles were analysed using VOSviewer to construct co-occurrence network maps. After critically examining the identified papers, five thematic clusters were established. Accounting, behavioural, and human capital effects were recognised as broad themes based on the five thematic clusters. Governments, policymakers, and stakeholders can use the findings of this study to make long-term decisions in the domain of demographic dividend and economic growth.
References
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38. Minh, N. T. (2009). Dynamic demographics and economic growth in Vietnam. Journal of the Asia Pacific Economy, 14(4), 389-398.
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57. Xiao, Y., & Watson, M. (2019). Guidance on conducting a systematic literature review. Journal of Planning Education and Research, 39(1), 93-112.
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59. Youssef, H., Elden, N. K., & Abou Ali, H. (2018). Realizing the Prospects of the Demographic Dividend in Selected Arab Countries. Epidemiology, Biostatistics and Public Health, 15(3).

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

How to cite

Jafrin, N., Saif, A. N. M., Masud, M. M., Ghosh, D., & Nesa, M. (2024). Nexus between demographic dividend and economic growth: A systematic review with bibliometric exploration. Multidisciplinary Reviews, 7(8), 2024182. https://doi.org/10.31893/multirev.2024182

[1] Abrigo, M. R., Racelis, R. H., Salas, J. I., & Herrin, A. N. (2016). Decomposing economic gains from population age structure transition in the Philippines. The Journal of the Economics of Ageing, 8, 19-27.

[2] Ahmad, M., & Khan, R. E. A. (2018). Age-structure, human capital and economic growth in developing economies: A disaggregated analysis. Pakistan Journal of Commerce and Social Sciences (PJCSS), 12(1), 229-252.

[3] Ahmed, S. A., Cruz, M., Go, D. S., Maliszewska, M., & Osorio‐Rodarte, I. (2016). How Significant Is Sub‐Saharan Africa's Demographic Dividend for Its Future Growth and Poverty Reduction?. Review of Development Economics, 20(4), 762-793.

[4] Asar, S., Jalalpour, S. H., Ayoubi, F., Rahmani, M. R., & Rezaeian, M. (2016). PRISMA; preferred reporting items for systematic reviews and meta-analyses. Journal of Rafsanjan University of Medical Sciences, 15(1), 68-80.

[5] Baerlocher, D., Parente, S. L., & Rios-Neto, E. (2019). Economic effects of demographic dividend in Brazilian regions. The Journal of the Economics of Ageing, 14, 100198.

[6] Baker, H. K., Kumar, S., & Pandey, N. (2021). Thirty years of Small Business Economics: A bibliometric overview. Small Business Economics, 56(1), 487-517.

[7] Bernard, H. R., Wutich, A., & Ryan, G. W. (2016). Analyzing qualitative data: Systematic approaches. SAGE publications.

[8] Bloom, D. E., Canning, D., Fink, G., & Finlay, J. E. (2007). Does age structure forecast economic growth?. International Journal of Forecasting, 23(4), 569-585.

[9] Bohini, K., Yaganti, C. H., & Thomas, M. P. (2021). India’s Demographic Dividend: The Millennials’ Savings Conundrum. Millennial Asia, 0976399620958262.

[10] Booth, A. (2016). Searching for qualitative research for inclusion in systematic reviews: a structured methodological review. Systematic reviews, 5(1), 1-23.

[11] Choudhry, M. T., & Elhorst, J. P. (2010). Demographic transition and economic growth in China, India and Pakistan. Economic Systems, 34(3), 218-236.

[12] Cruz, M., & Ahmed, S. A. (2018). On the impact of demographic change on economic growth and poverty. World Development, 105, 95-106.

[13] Cuc, J. E. (2019). Trends of Business Model Research: A Bibliometric Analysis. Journal of Business Models, 7(5), 1-24.

[14] De la Croix, D., Lindh, T., & Malmberg, B. (2009). Demographic change and economic growth in Sweden: 1750–2050. Journal of macroeconomics, 31(1), 132-148.

[15] Feng, Y., Zhu, Q., & Lai, K. H. (2017). Corporate social responsibility for supply chain management: A literature review and bibliometric analysis. Journal of Cleaner Production, 158, 296-307.

[16] Fergnani, A. (2019). Mapping futures studies scholarship from 1968 to present: A bibliometric review of thematic clusters, research trends, and research gaps. Futures, 105, 104-123.

[17] Gusenbauer, M., & Haddaway, N. R. (2020). Which academic search systems are suitable for systematic reviews or meta‐analyses? Evaluating retrieval qualities of Google Scholar, PubMed, and 26 other resources. Research synthesis methods, 11(2), 181-217.

[18] Hart, C. (2018). Doing a literature review: Releasing the research imagination.

[19] Ja'afar, R. (2020). Demographic Transition and Economic Potential: Malaysia. SCMS Journal of Indian Management, 17(3), 26-35.

[20] Jafrin, N., & Masud, M. M. (2020). The demographic dividend and economic growth: an integrated theoretical framework. Demografie, 62(4), 240-252.

[21] Jafrin, N., Mahi, M., Masud, M. M., & Ghosh, D. (2021). Demographic dividend and economic growth in emerging economies: fresh evidence from the SAARC countries. International Journal of Social Economics, 48(8), 1159-1174.

[22] Jehan, Z., & Khan, F. A. (2020). Demographic Changes and Economic Growth in Pakistan: The Role of Capital Stock. The Pakistan Development Review, 59(2), 155-178.

[23] Jiang, Y., Ritchie, B. W., & Benckendorff, P. (2019). Bibliometric visualisation: An application in tourism crisis and disaster management research. Current Issues in Tourism, 22(16), 1925-1957.

[24] Joe, W., Kumar, A., & Rajpal, S. (2018). Swimming against the tide: economic growth and demographic dividend in India. Asian Population Studies, 14(2), 211-227.

[25] Kotschy, R., Urtaza, P. S., & Sunde, U. (2020). The demographic dividend is more than an education dividend. Proceedings of the National Academy of Sciences, 117(42), 25982-25984.

[26] Kovacs, A., Van Looy, B., & Cassiman, B. (2015). Exploring the scope of open innovation: a bibliometric review of a decade of research. Scientometrics, 104(3), 951-983.

[27] Kraus, S., Breier, M., & Dasí-Rodríguez, S. (2020). The art of crafting a systematic literature review in entrepreneurship research. International Entrepreneurship and Management Journal, 16(3), 1023-1042.

[28] Lee, R., & Mason, A. (2006). Back to basics: What is the demographic dividend?. Finance & development, 43(003).

[29] Liao, P. J. (2011). Does demographic change matter for growth?. European Economic Review, 55(5), 659-677.

[30] Liao, P., Wan, Y., Tang, P., Wu, C., Hu, Y., & Zhang, S. (2019). Applying crowdsourcing techniques in urban planning: A bibliometric analysis of research and practice prospects. Cities, 94, 33-43.

[31] Liberati, A., Altman, D. G., Tetzlaff, J., Mulrow, C., Gøtzsche, P. C., Ioannidis, J. P., ... & Moher, D. (2009). The PRISMA statement for reporting systematic reviews and meta- analyses of studies that evaluate health care interventions: explanation and elaboration. Journal of clinical epidemiology, 62(10), e1-e34.

[32] Linnenluecke, M. K., Marrone, M., & Singh, A. K. (2020). Conducting systematic literature reviews and bibliometric analyses. Australian Journal of Management, 45(2), 175-194.

[33] Lutz, W., Cuaresma, J. C., Kebede, E., Prskawetz, A., Sanderson, W. C., & Striessnig, E. (2019).Education rather than age structure brings demographic dividend. Proceedings of the National Academy of Sciences, 116(26), 12798-12803.

[34] Mahmoud, M. I., Surwanti, A., & Pribadi, F. (2024). Bibliometric analysis of trends and patterns in capital structure research: A decade-long review (2012-2022). Multidisciplinary Reviews, 7(2), 2024025-2024025.

[35] Martín-Martín, A., Orduna-Malea, E., & López-Cózar, E. D. (2018). Coverage of highly-cited documents in Google Scholar, Web of Science, and Scopus: a multidisciplinary comparison. Scientometrics, 116(3), 2175-2188.

[36] Martín-Martín, A., Thelwall, M., Orduna-Malea, E., & López-Cózar, E. D. (2021). Google Scholar, Microsoft Academic, Scopus, Dimensions, Web of Science, and OpenCitations’ COCI: a multidisciplinary comparison of coverage via citations. Scientometrics, 126(1), 871-906.

[37] Mengist, W., Soromessa, T., & Legese, G. (2020). Method for conducting systematic literature review and meta-analysis for environmental science research. MethodsX, 7, 100777.

[38] Minh, N. T. (2009). Dynamic demographics and economic growth in Vietnam. Journal of the Asia Pacific Economy, 14(4), 389-398.

[39] Moher, D., Liberati, A., Tetzlaff, J., & Altman, D. G. (2010). Preferred reporting items for systematic reviews and meta-analyses: the PRISMA statement. Int J Surg, 8(5), 336-341.

[40] Montoya, F. G., Alcayde, A., Baños, R., & Manzano-Agugliaro, F. (2018). A fast method for identifying worldwide scientific collaborations using the Scopus database. Telematics and Informatics, 35(1), 168-185.

[41] Narayana, M. R. (2015). India’s age structure transition, sectoral labor productivities, and economic growth: Evidence and implications based on national transfer accounts. Population Research and Policy Review, 34(3), 381-415.

[42] Ogawa, N., Mansor, N., Lee, S. H., Abrigo, M. R., & Aris, T. (2021). Population Aging and the Three Demographic Dividends in Asia. Asian Development Review, 38(1), 32-67.

[43] Pasichnyi, M., & Nepytaliuk, A. (2021). The Contributions of Demographic Factors to Economic Growth Wpływ czynników demograficznych na rozwój ekonomiczny. PROBLEMY EKOROZWOJU, 16(1), 219-229.

[44] Peters, J. P., Hooft, L., Grolman, W., & Stegeman, I. (2015). Reporting quality of systematic reviews and meta-analyses of otorhinolaryngologic articles based on the PRISMA statement. PLoS One, 10(8), e0136540.

[45] Pinsker, J. (2019). What Happens When the World’s Population Stops Growing?. The Atlantic.

[46] Pizzi, S., Caputo, A., Corvino, A., & Venturelli, A. (2020). Management research and the UN sustainable development goals (SDGs): A bibliometric investigation and systematic review. Journal of Cleaner Production, 124033.

[47] Prskawetz, A., Kögel, T., Sanderson, W. C., & Scherbov, S. (2007). The effects of age structure on economic growth: An application of probabilistic forecasting to India. International Journal of Forecasting, 23(4), 587-602.

[48] Rizk, R. (2019). Does demographic transition matter for economic growth? Evidence from Egypt. The Journal of North African Studies, 24(6), 1012-1035.

[49] Saif, A. N. M., Abd Rahman, A., & Mostafa, R. (2021). Post-implementation challenges of ERP adoption in apparel industry of developing country. LogForum, 17(4), 519-529.

[50] Saif, A. N. M., Islam, K. M. A., Haque, A., Akhter, H., Rahman, S. M. M., Jafrin, N., ... & Mostafa, R. (2022). Blockchain Implementation Challenges in Developing Countries: An evidence-based systematic review and bibliometric analysis. Technology Innovation Management Review, 12(1/2).

[51] Sánchez, A. D., Del Río, M. D. L. C., & García, J. Á. (2017). Bibliometric analysis of publications on wine tourism in the databases Scopus and WoS. European Research on Management and Business Economics, 23(1), 8-15.

[52] Sánchez-Romero, M., Abio, G., Patxot, C., & Souto, G. (2018). Contribution of demography to economic growth. SERIEs, 9(1), 27-64.

[53] Sinkovics, N. (2016). Enhancing the foundations for theorising through bibliometric mapping. International Marketing Review.

[54] Sonis, J. D., Aaronson, E. L., Lee, R. Y., Philpotts, L. L., & White, B. A. (2018). Emergency department patient experience: a systematic review of the literature. Journal of patient experience, 5(2), 101-106.

[55] Thomé, A. M. T., Scavarda, L. F., & Scavarda, A. J. (2016). Conducting systematic literature review in operations management. Production Planning & Control, 27(5), 408-420.

[56] Wei, Z., & Hao, R. (2010). Demographic structure and economic growth: Evidence from China. Journal of Comparative Economics, 38(4), 472-491.

[57] Xiao, Y., & Watson, M. (2019). Guidance on conducting a systematic literature review. Journal of Planning Education and Research, 39(1), 93-112.

[58] Ye, J., Chen, Z., & Peng, B. (2021). Is the demographic dividend diminishing in China? Evidence from population aging and economic growth during 1990–2015. Review of Development Economics.

[59] Youssef, H., Elden, N. K., & Abou Ali, H. (2018). Realizing the Prospects of the Demographic Dividend in Selected Arab Countries. Epidemiology, Biostatistics and Public Health, 15(3).

Abstract

References

How to cite