Health, Education, And Life Cycle Savings In The Development Process
Abstract"This paper studies investment in health and human capital in a life cycle model. Health investment enhances survival to old age by improving health from its endowed level. The model predicts two distinctive phases of development. When income is low enough, the economy has no health investment and little savings, leading to slow growth. When income grows, health investment will become positive and the saving rate will rise, leading to higher life expectancy and faster growth. A health subsidy can move the economy from the first phase to the next. Subsidies on health and human capital investments can improve welfare." ("JEL" I00, J10, H50, O10) Copyright 2007 Western Economic Association International.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Economic Inquiry.
Volume (Year): 45 (2007)
Issue (Month): 3 (07)
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Find related papers by JEL classification:
- I00 - Health, Education, and Welfare - - General - - - General
- J10 - Labor and Demographic Economics - - Demographic Economics - - - General
- H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
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- Shuyun May Li & Solmaz Moslehi & Siew Ling Yew, 2012.
"Public-Private Mix of Health Expenditure: A Political Economy Approach and A Quantitative Exercise,"
Development Research Unit Working Paper Series, Monash University, Department of Economics
11-12, Monash University, Department of Economics.
- Shuyun May Li, Solmaz Moslehi, Siew Ling Yew, 2012. "Public-Private Mix of Health Expenditure: A Political Economy Approach and A Quantitative Exercise," Department of Economics - Working Papers Series, The University of Melbourne 1157, The University of Melbourne.
- Gong, Liutang & Li, Hongyi & Wang, Dihai, 2012. "Health investment, physical capital accumulation, and economic growth," China Economic Review, Elsevier, Elsevier, vol. 23(4), pages 1104-1119.
- Dimitrios Varvarigos, 2010. "Environmental Degradation, Longevity, and the Dynamics of Economic Development," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 46(1), pages 59-73, May.
- Rangan Gupta & Cobus Vermeulen, 2010.
"Private and Public Health Expenditures in an Endogenous Growth Model with Inflation Targeting,"
201001, University of Pretoria, Department of Economics.
- Rangan Gupta & Cobus Vermeulen, 2010. "Private and Public Health Expenditures in an Endogenous Growth Model with Inflation Targeting," Annals of Economics and Finance, Society for AEF, vol. 11(1), pages 139-153, May.
- Casper Hansen & Lars Lønstrup, 2012. "Can higher life expectancy induce more schooling and earlier retirement?," Journal of Population Economics, Springer, Springer, vol. 25(4), pages 1249-1264, October.
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