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Health and economic development: evidence from non-OECD countries

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  • Alberto Bucci
  • Lorenzo Carbonari
  • Monia Ranalli
  • Giovanni Trovato

Abstract

This paper studies the empirical relationship between population’s health and real GDP dynamics in low- and middle-income countries. We employ a semi-parametric technique, which combines mixed panel data models and cluster analysis to account for unobserved heterogeneity, an important source of estimation bias in growth regressions. We estimate a version of the Solow growth model augmented with human capital, in the form of both education and health. Our estimates show that population s health, here proxied by the life expectancy at birth, has a positive, sizable, and statistically significant effect on both the level and the growth rate of the real per capita GDP.

Suggested Citation

  • Alberto Bucci & Lorenzo Carbonari & Monia Ranalli & Giovanni Trovato, 2021. "Health and economic development: evidence from non-OECD countries," Applied Economics, Taylor & Francis Journals, vol. 53(55), pages 6348-6375, November.
    • Handle: RePEc:taf:applec:v:53:y:2021:i:55:p:6348-6375
    DOI: 10.1080/00036846.2021.1939856
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