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Health care and Economic Growth

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  • Pascal Gourdel
  • Liem Hoang Ngoc
  • Cuong Le Van
  • Tédie Mazamba

Abstract

In this paper we adapt a discrete time version of the Lucas model to a model with social protection where part of the total production is devoted to the health expenditures. The output is produced by labor and the technology exhibits externalities. The rate of growth of human capital depends on the ratio of health expenditures over GDP. We give conditions for which the optimal himan capital sequences are increasing. When the instantaneous utility function is isoelastic and the production function is Cobb-Douglas, we prove that the optimal himan capital sequences grow at constant rate. Moreover, we prove there exists a unique equilibrium in the sense of Lucas [1988] or Romer [1986].

Suggested Citation

  • Pascal Gourdel & Liem Hoang Ngoc & Cuong Le Van & Tédie Mazamba, 2004. "Health care and Economic Growth," Annals of Economics and Statistics, GENES, issue 75-76, pages 257-272.
    • Handle: RePEc:adr:anecst:y:2004:i:75-76:p:257-272
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    File URL: http://www.jstor.org/stable/20079103
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    Cited by:

    1. Jean-Michel Grandmont, 2013. "Tribute to Cuong Le Van," International Journal of Economic Theory, The International Society for Economic Theory, vol. 9(1), pages 5-10, March.
    2. Cavaco, Sandra & Eriksson, Tor & Skalli, Ali, 2011. "Life Cycle Development of Obesity and Its Determinants," Working Papers 11-7, University of Aarhus, Aarhus School of Business, Department of Economics.
    3. Cavaco, Sandra & Eriksson, Tor & Skalli, Ali, 2014. "Life cycle development of obesity and its determinants in six European countries," Economics & Human Biology, Elsevier, vol. 14(C), pages 62-78.
    4. Alexander S. Skorobogatov, 2012. "The value of human capital and health behavior," Economics Bulletin, AccessEcon, vol. 32(2), pages 1785-1796.

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