Presentation Schedule
Demographic Structural Change and Its Impact on Thailand’s Aggregate Human Capital: Evidence from a Human Capital Valuation Method Toward a Super-Aged Society (107627)
Saturday, 9 May 2026 15:45
Session: Poster Session
Room: Hall B5 Foyer
Presentation Type: Poster Presentation
Human capital is a central determinant of long-run economic performance and social development. Thailand has experienced a rapid demographic transition, entering an aged society in 2005 and subsequently reaching a complete aged society. Looking ahead, Thailand is projected to become a super-aged society by 2033, raising concerns about the sustainability of the labor force and the country’s aggregate human capital. This study examines how changes in Thailand’s population age structure affect aggregate human capital embodied in the labor force. Using a human capital valuation method, we estimate the monetary value of labor-force human capital by occupational fields, distinguishing between occupations associated with social sciences and those associated with science-related domains. By comparing historical and contemporary demographic structures, the analysis evaluates how population ageing, together with declining fertility, alters the size and composition of the working-age population and, in turn, the nation’s total human capital value. The results show that demographic ageing significantly influences Thailand’s aggregate human capital across both occupational domains. In the early phase of population ageing, total human capital value remains broadly stable and may increase, reflecting continued labor force participation among older workers and the entry of younger cohorts into employment. However, after roughly a decade, aggregate human capital exhibits a declining trajectory as working-age cohorts shrink and dependency pressures intensify. This study proposes policy measures and institutional mechanisms to sustain human resource development and inclusive growth in the long term.
Authors:
Narissara Charoenphandhu, Rangsit University, Thailand
Thoedsak Chomtohsuwan, Rangsit University, Thailand
About the Presenter(s)
Dr Narissara Charoenphandhu is a University Assistant Professor/Lecturer at Rangsit University in Thailand
See this presentation on the full schedule – Saturday Schedule
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