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

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Author Info
Raouf, BOUCEKKINE (UNIVERSITE CATHOLIQUE DE LOUVAIN, Department of Economics)
Bity, DIENE
Théophile, AZOMAHOU

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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 a model departing from “perpetual youth” by assuming age-dependent survival probabilities. We show that life-cycle behavior combined with age-dependent survival laws can reproduce our empirical finding.

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Paper provided by Université catholique de Louvain, Département des Sciences Economiques in its series Université catholique de Louvain, Département des Sciences Economiques Working Paper with number 2007043.

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Length: 41
Date of creation: 14 Dec 2007
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Handle: RePEc:ctl:louvec:2007043

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Related research
Keywords: Life expectancy economic growth perpetual youth age-dependent mortality nonparametric estimation

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Find related papers by JEL classification:
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
I20 - Health, Education, and Welfare - - Education - - - General
J10 - Labor and Demographic Economics - - Demographic Economics - - - General

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  5. Raouf, BOUCEKKINE & David de la Croix, 2004. "Modelling vintage structures with DDEs : principles and applications," Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) Discussion Paper 2004004, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
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  6. Kalemli-Ozcan, Sebnem & Ryder, Harl E. & Weil, David N., 2000. "Mortality decline, human capital investment, and economic growth," Journal of Development Economics, Elsevier, vol. 62(1), pages 1-23, June. [Downloadable!] (restricted)
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  13. Cruz A. Echevarría, 2004. "Life Expectancy, Schooling Time, Retirement, and Growth," Economic Inquiry, Oxford University Press, vol. 42(4), pages 602-617, October. [Downloadable!] (restricted)
  14. 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. [Downloadable!] (restricted)
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