Understanding the Provincial Generational Economy for Improved Policy-making

IntroductionIn understanding Pakistan’s economy, the national-level analysis of National Transfer Accounts (NTA) has been instrumental in providing overarching insights into the generational economy and its macroeconomic implications[1]. Yet, each province in Pakistan has its unique characteristics, like demographics and economic structures, making a provincial estimation imperative. Additionally, the 18th Amendment devolved major subjects to provinces, making it crucial to look closely at each province’s generational economy.The demographic transition currently underway in Pakistan presents an opportune moment, often referred to as the ‘demographic dividend,’ wherein the country’s large working-age population can potentially drive economic growth. However, unlocking this potential requires policymakers to be equipped with precise and province-specific data on age structure changes and their economic ramifications. The adoption of the NTA framework at the provincial level emerges as a strategic approach to gaining deeper insights into the wealth flows occurring within each province’s population. This localized analysis allows for a granular understanding of how individuals across different age groups contribute to, consume, and share resources, both in private and public spheres. By focusing on provinces, it aims to estimate age-specific economic indicators, spot disparities in economic behaviors across regions, analyze contributions from public and private sources, guide provincial policies, and ultimately provide policymakers with informed insights to foster inclusive, sustainable development tailored to the unique characteristics of each province

Demographic change · Demographics · Economic model · Estimation · Population · Private sector · Public policy · Sustainable development · Entrepreneurship Studies and Influences · Hungarian Social, Economic and Educational Studies