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Human Capital Formation, Life Expectancy and the Process of Economic Development

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Author Info
Cervellati, Matteo (Universitat Pompeu Fabra, Barcelona and University of Bologna)
Sunde, Uwe () (IZA Bonn and University of Bonn)

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Abstract

This paper presents a microfounded theory of long-term development. We model the interplay between economic variables, namely the process of human capital formation and technological progress, and the biological constraint of finite lifetime expectancy. All these processes affect each other and are endogenously determined. The model is analytically solved and simulated for illustrative purposes. The resulting dynamics reproduce a long period of stagnant growth as well as an endogenous and rapid transition to a situation characterized by permanent growth. This transition can be interpreted as industrial revolution. Historical and empirical evidence is discussed and shown to be in line with the predictions of the model.

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Publisher Info
Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 585.

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Length: 43 pages
Date of creation: Sep 2002
Date of revision:
Handle: RePEc:iza:izadps:dp585

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Related research
Keywords: long-term development; endogenous lifetime duration; endogenous life expectancy; human capital; technological progress; growth externalities; industrial revolution;

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Find related papers by JEL classification:
E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
J10 - Labor and Demographic Economics - - Demographic Economics - - - General
O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Schultz, T.P., 1993. "Mortality Decline in the Low Income World: Causes and Consequences," Papers 681, Yale - Economic Growth Center.
    Other versions:
  2. Swanson, Charles E & Kopecky, Kenneth J, 1999. "Lifespan and Output," Economic Inquiry, Oxford University Press, vol. 37(2), pages 213-25, April.
  3. Streeten, Paul, 1994. "Human Development: Means and Ends," American Economic Review, American Economic Association, vol. 84(2), pages 232-37, May. [Downloadable!] (restricted)
  4. de la Croix, David & Licandro, Omar, 1999. "Life expectancy and endogenous growth," Economics Letters, Elsevier, vol. 65(2), pages 255-263, November. [Downloadable!] (restricted)
    Other versions:
  5. Gary S. Becker & Kevin M. Murphy & Robert Tamura, . "Human Capital, Fertility, and Economic Growth," University of Chicago - Population Research Center 90-5a, Chicago - Population Research Center. [Downloadable!]
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  6. Blackburn, Keith & Cipriani, Giam Pietro, 2002. "A model of longevity, fertility and growth," Journal of Economic Dynamics and Control, Elsevier, vol. 26(2), pages 187-204, February. [Downloadable!] (restricted)
  7. Kalemli-Ozcan, Sebnem, 2002. " Does the Mortality Decline Promote Economic Growth?," Journal of Economic Growth, Springer, vol. 7(4), pages 411-39, December. [Downloadable!] (restricted)
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  8. repec:bep:macadv:v:1:y:2001:i:advances/1/2:p:1028-1028 is not listed on IDEAS
  9. 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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  10. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October. [Downloadable!] (restricted)
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  11. Frank R. Lichtenberg, 1998. "Pharmaceutical Innovation, Mortality Reduction, and Economic Growth," NBER Working Papers 6569, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  12. Gary D. Hansen & Edward C. Prescott, 1998. "Malthus to Solow," NBER Working Papers 6858, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  13. Mokyr, Joel, 1993. "Technological Progress and the Decline of European Mortality," American Economic Review, American Economic Association, vol. 83(2), pages 324-30, May. [Downloadable!] (restricted)
  14. 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)
  15. Oded Galor & David N. Weil, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September. [Downloadable!] (restricted)
  16. Goodfriend, Marvin & McDermott, John, 1995. "Early Development," American Economic Review, American Economic Association, vol. 85(1), pages 116-33, March. [Downloadable!] (restricted)
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Moshe Hazan & Hosny Zoabi, 2005. "Does Longevity Cause Growth," GE, Growth, Math methods 0507001, EconWPA. [Downloadable!]
    Other versions:
  2. Eytan Sheshinski, 2009. "Uncertain Longevity and Investment in Education," Discussion Paper Series dp520, Center for Rationality and Interactive Decision Theory, Hebrew University, Jerusalem. [Downloadable!]
  3. Moshe Hazan, 2006. "Longevity and Lifetime Labor Input: Data and Implications," DEGIT Conference Papers c011_065, DEGIT, Dynamics, Economic Growth, and International Trade. [Downloadable!]
    Other versions:
  4. Matthias Doepke, 2008. "Humankapital, politischer Wandel und langfristige Wirtschaftsentwickung," IEW - Working Papers iewwp356, Institute for Empirical Research in Economics - IEW. [Downloadable!]
    Other versions:
  5. Giovanni Prarolo & Francesco Lancia, 2007. "A Politico-Economic Model of Aging, Technology Adoption and Growth," Working Papers 2007.48, Fondazione Eni Enrico Mattei. [Downloadable!]
    Other versions:
  6. Michele Boldrin & Larry E. Jones & Aubhik Khan, 2005. "Three Equations Generating an Industrial Revolution?," Levine's Bibliography 784828000000000385, UCLA Department of Economics. [Downloadable!]
    Other versions:
  7. Strulik, Holger, 2007. "Geography, Health, and the Pace of Demo-Economic Development," Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Universität Hannover dp-361, Universität Hannover, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
    Other versions:
  8. Robert Tamura, 2004. "Human capital and economic development," Working Paper 2004-34, Federal Reserve Bank of Atlanta. [Downloadable!]
    Other versions:
  9. Strulik, Holger, 2008. "Degrees of Development - How Geographic Latitude Sets the Pace of Industrialization and Demographic Change," Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Universität Hannover dp-384, Universität Hannover, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
  10. David Mayer Foulkes, 2005. "Institutions and Long-Term Development Policy," Documentos de Trabajo 9602, CIDE, Division de Economia. [Downloadable!]
  11. Oded Galor & Omer Moav, 2006. "Natural Selection and the Evolution of Life Expectancy," DEGIT Conference Papers c011_062, DEGIT, Dynamics, Economic Growth, and International Trade. [Downloadable!]
    Other versions:
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