The idea behind this thesis stems from the existing abundance of empirical studies suggesting the strong correlation between longevity and economic growth. In a simple two period overlappinggeneration framework, we establish a direct link between health investment and economic growth through endogenous survival rate. We find that health expenditure complements saving in equilibrium, thereby contributes to economic growth, which in turn leads to a further increase in health investment. The simulation with calibrated parameters also manifests the consistence between our results and the worldwide data as well as the fact of China.
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Paper provided by Oslo University, Health Economics Research Programme in its series HERO On line Working Paper Series with number
2007:8.
Length: 51 pages Date of creation: 03 Jun 2009 Date of revision: Handle: RePEc:hhs:oslohe:2007_008
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