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The Fogel Approach to Health and Growth

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  • Dihai Wang

    (School of Economics, Fudan University)

  • Heng-fu Zou

    (Research Department, World Bank)

Abstract

According to Robert Fogel (1994a, 1994b), nutrition is the driving force for the increase in health human capital, which in turn has significantly promoted economic growth in the long run. In this paper, we take Fogel¡¯s finding to extend the standard Ramsey model by including the effect of consumption on nutrition and health human capital formation. It is demonstrated that there exist multiple equilibria in the modified Ramsey model with a subsistence level of consumption. That is to say, different countries may end up with different levels of long-run consumption, nutrition, health human capital, and physical capital.

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Bibliographic Info

Paper provided by China Economics and Management Academy, Central University of Finance and Economics in its series CEMA Working Papers with number 520.

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Length: 33 pages
Date of creation: 2011
Date of revision:
Handle: RePEc:cuf:wpaper:520

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Web page: http://cema.cufe.edu.cn/
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Keywords: Health Human Capital; Consumption; Economic Growth; Poverty Trap;

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