By: Hazwan Mat Din

Serdang, 7 March - Online Training Workshop on National Transfer Account for Policymakers - “Estimation and Applications of National Transfers Accounts (NTA) for Malaysia: The Successful Transition to a Vibrant, Aged Society” was co-organized by the Malaysian Research Institute on Ageing (MyAgeing^TM), United Nation Department of Economic and Social Affairs (UNDESA) and Malaysia Ministry of Finance (MOF). The five-days, two-hours/day online workshop funded by UNDESA was held to introduce both the methods and applications of NTA to policy makers in managing the socio-economic impact of population change.

The population age structure of countries in South East Asia is changing rapidly. In some countries, like the Philippines, population is becoming concentrated in the working-ages, generating the potential for a favorable period of economic growth, a “demographic dividend.” For these countries, it is important to examine conditions and policies that affect the size of the dividend and convert the transitory age distribution benefit into a long term boost for rates of economic growth. Other countries, such as Malaysia, are nearing the end of this demographic window of opportunity, with the working-age population growing slowly or in decline and the older population growing rapidly. As such, there are concerns about slowing economic growth and the economic security of older persons.

The NTA is a policy tool to assist countries in the region in understanding and responding to population ageing as it provides a conceptual framework for measuring the economic lifecycle and the reallocation system in a comprehensive and systematic manner. It provides a complete accounting by age of how economic resources are produced and consumed, and how each country relies on government programs, family systems, and financial markets to achieve the final distribution of these economic resources. The NTA also provides a unique and invaluable framework for investigating how changes in population age structure will influence national development, economic security, generational equity, gender equality, public finances, and many other important public policy issues.

More than 100 online participants from various government agencies participated in the workshop to listen to renowned experts of NTA. Among the experts who join as the speakers of the workshop were Mun Sim Lai and Tim Miller from UNDESA and Prof Emeritus Ronald Lee from University of California.

Through the training, core and more advanced technical know-how can be shared, hence build a larger pool and network of local NTA experts especially among policymaker.

Tarikh Input: 23/03/2022 | Kemaskini: 02/04/2022 | lizamdnor