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Policies to stimulate growth: should we invest in health or education?

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  • Don Webber

Abstract

Empirical studies in the literature on economic growth have focused on the affect of education and yet Knowles and Owen (1995, 1997) found health, proxied by life expectancy, to be highly statistically significant with education having a modest role. This study extends their model and employs variables that are more conducive to policy formulation: calorific intake and school enrolment ratios. Results suggest that reducing undernutrition would only make a modest contribution to economic growth while increasing enrolment ratios, especially secondary, has a positive and more significant effect. Policies to increase economic growth should favour investments in education over health.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 34 (2002)
Issue (Month): 13 ()
Pages: 1633-1643

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Handle: RePEc:taf:applec:v:34:y:2002:i:13:p:1633-1643

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Cited by:
  1. Paresh Kumar Narayan, 2007. "Do health expenditures 'catch-up'? Evidence from OECD countries," Health Economics, John Wiley & Sons, Ltd., vol. 16(10), pages 993-1008.
  2. Jochen Hartwig, 2008. "Has health capital formation cured ‘Baumol’s Disease’? – Panel Granger causality evidence for OECD countries," KOF Working papers 08-206, KOF Swiss Economic Institute, ETH Zurich.
  3. Hongyi Li & Huang Liang, 2010. "Health, education, and economic growth in East Asia," Journal of Chinese Economic and Foreign Trade Studies, Emerald Group Publishing, vol. 3(2), pages 110-131, June.
  4. Hongbin Li & Xianguo Yao & Junsen Zhang & Li-An Zhou, 2005. "Parental childcare and children's educational attainment: evidence from China," Applied Economics, Taylor & Francis Journals, vol. 37(18), pages 2067-2076.
  5. , . "No Longer Available," PGDA Working Papers 2107, Program on the Global Demography of Aging.
  6. Nijkamp, Peter & Poot, Jacques, 2004. "Meta-analysis of the effect of fiscal policies on long-run growth," European Journal of Political Economy, Elsevier, vol. 20(1), pages 91-124, March.
  7. Eric Neumayer & Matthew A. Cole, 2003. "The Impact of Poor Health on Total Factor Productivity," HEW 0312001, EconWPA, revised 02 Nov 2004.
  8. Agenor, Pierre-Richard & Moreno-Dodson, Blanca, 2006. "Public infrastructure and growth : new channels and policy implications," Policy Research Working Paper Series 4064, The World Bank.
  9. Brit S. Schneider & Udo Schneider & Volker Ulrich, 2007. "Health and the Decision to Invest in Education," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 227(5+6), pages 725-745, December.
  10. Zon ,Adriaan,van & Muysken ,Joan, 2003. "Health as a Principal Determinant of Economic Growth," Research Memorandum 024, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
  11. Narayan, Seema & Narayan, Paresh Kumar & Mishra, Sagarika, 2010. "Investigating the relationship between health and economic growth: Empirical evidence from a panel of 5 Asian countries," Journal of Asian Economics, Elsevier, vol. 21(4), pages 404-411, August.
  12. Agenor, Pierre-Richard, 2003. "The mini-integrated macroeconomic model for poverty analysis : a framework for analyzing the unemployment and poverty effects of fiscal and labor market reforms," Policy Research Working Paper Series 3067, The World Bank.
  13. Hartwig, Jochen, 2010. "Is health capital formation good for long-term economic growth? - Panel Granger-causality evidence for OECD countries," Journal of Macroeconomics, Elsevier, vol. 32(1), pages 314-325, March.
  14. LI, Hongyi & HUANG, Liang, 2009. "Health, education, and economic growth in China: Empirical findings and implications," China Economic Review, Elsevier, vol. 20(3), pages 374-387, September.
  15. Dao, Minh Quang, 2009. "Health, Economic Development, and Poverty in Developing Countries," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 62(2), pages 163-174.
  16. Beraldo, Sergio & Montolio, Daniel & Turati, Gilberto, 2009. "Healthy, educated and wealthy: A primer on the impact of public and private welfare expenditures on economic growth," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(6), pages 946-956, December.
  17. Jalil, Abdul & Idrees, Muhammad, 2013. "Modeling the impact of education on the economic growth: Evidence from aggregated and disaggregated time series data of Pakistan," Economic Modelling, Elsevier, vol. 31(C), pages 383-388.
  18. Peter Nijkamp & Jacques Poot, Victoria, 2002. "Meta-Analysis of the Impact of Fiscal Policies on Long-Run Growth," Tinbergen Institute Discussion Papers 02-028/3, Tinbergen Institute, revised 23 Apr 2003.

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