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Mapping The Markets by Robin Griffiths, Deborah Owen

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6 Demographic trends

The process of industrialisation prompts demographic changes within a society. Pre-industrial societies are characterised by high fertility and mortality rates, but as a country industrialises both of these tend to fall substantially.

Demographic shifts can have a powerful effect on economic growth. However, it is not the overall size of a population that influences growth but rather the age structure within a population. According to research carried out by the IMF, there is a positive correlation between a country’s GDP growth per head and the size of its working-age population (15–64). Not only does a large, active labour force boost productive capacity, it also generates a high level of savings which stimulates investment, ...

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