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A closer look at the relationship between life expectancy and economic growth

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  • Théophile T. Azomahou
  • Raouf Boucekkine
  • Bity Diene

Abstract

We first provide a nonparametric inference of the relationship between life expectancy and economic growth on an historical data for 18 countries over the period 1820-2005. The obtained shape shows up convexity for low enough values of life expectancy and concavity for large enough values. We then study this relationship on a benchmark model combining perpetual youth" and learning-by-investing. In such a benchmark, the generated relationship between life expectancy and economic growth is shown to be strictly increasing and concave. We finally examine two models departing from perpetual youth" by assuming successively age-dependent earnings and age-dependent survival probabilities. With age-dependent earnings, the obtained relationship is hump-shaped while agedependent survival laws do reproduce the convex-concave shape detected in the prior empirical study.

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Bibliographic Info

Article provided by The International Society for Economic Theory in its journal International Journal of Economic Theory.

Volume (Year): 5 (2009)
Issue (Month): 2 ()
Pages: 201-244

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Handle: RePEc:bla:ijethy:v:5:y:2009:i:2:p:201-244

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  1. BOUCEKKINE, Raouf & PEETERS, Dominique & de la CROIX, David, . "Early literacy achievements, population density and the transition to modern growth," CORE Discussion Papers RP -1911, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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  3. Raouf Boucekkine & David de la Croix & Omar Licandro, . "Modelling vintage structures with DDEs: Principles and applications," Working Papers 2004-07, FEDEA.
  4. Hamid Faruqee, 2003. "Debt, Deficits, and Age-specific Mortality," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 300-312, April.
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  7. Raouf Boucekkine & David de la Croix & Omar Licandro, 2003. "Early Mortality Declines at the Dawn of Modern Growth," Scandinavian Journal of Economics, Wiley Blackwell, vol. 105(3), pages 401-418, 09.
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  13. Boucekkine, Raouf & de la Croix, David & Licandro, Omar, 2002. "Vintage Human Capital, Demographic Trends, and Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 104(2), pages 340-375, June.
  14. Bhargava, Alok & Jamison, Dean T. & Lau, Lawrence J. & Murray, Christopher J. L., 2001. "Modeling the effects of health on economic growth," Journal of Health Economics, Elsevier, vol. 20(3), pages 423-440, May.
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Cited by:
  1. Kuhn, Michael & Prettner, Klaus, 2012. "Growth and welfare effects of health care in knowledge based economies," ECON WPS - Vienna University of Technology Working Papers in Economic Theory and Policy 03/2012, Vienna University of Technology, Institute for Mathematical Methods in Economics, Research Group Economics (ECON).
  2. Growiec, Jakub, 2007. "Human Capital, Aggregation, and Growth," MPRA Paper 7070, University Library of Munich, Germany.
  3. D'ALBIS Hippolyte & AUGERAUD-VÉRON Emmanuelle, 2009. "Continuous-Time Overlapping Generations Models," LERNA Working Papers 09.15.291, LERNA, University of Toulouse.
  4. Goenka, A. & Jafarey, S. & Pouliot, W., 2012. "Pollution, mortality and optimal environmental policy," Working Papers 12/07, Department of Economics, City University London.
  5. Ponthiere, Gregory, 2011. "Existence and stability of overconsumption equilibria," Economic Modelling, Elsevier, vol. 28(1-2), pages 74-90, January.
  6. Luciano Fanti & Mimmo Iannelli & Piero Manfredi, 2013. "Neoclassical growth with endogenous age distribution. Poverty vs low-fertility traps as steady states of demographic transitions," Journal of Population Economics, Springer, vol. 26(4), pages 1457-1484, October.
  7. d'Albis, Hippolyte & Augeraud-Véron, Emmanuelle, 2012. "Frequency of trade and the determinacy of equilibrium in economies of overlapping generations," MPRA Paper 45426, University Library of Munich, Germany.
  8. Jakub Growiec & Christian Groth, 2012. "On aggregating human capital across heterogeneous cohorts," National Bank of Poland Working Papers 134, National Bank of Poland, Economic Institute.

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