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Health, Human Capital Formation And Knowledge Production: Two Centuries Of International Evidence

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  • Madsen, Jakob B.

Abstract

Recent medical research shows that health is highly influential on learning and the ability to think laterally; however, past economic studies have failed to empirically examine the influence of health on learning, schooling, and ideas production, the main drivers of growth in endogenous growth models. This paper constructs a measure of health-adjusted educational attainment among the working age population based on their health status during the time they obtained their education. Using annual data for 21 OECD countries over the past two centuries, it is shown that health has been highly influential on the quantity and quality of schooling, innovation, and growth.

Suggested Citation

  • Madsen, Jakob B., 2016. "Health, Human Capital Formation And Knowledge Production: Two Centuries Of International Evidence," Macroeconomic Dynamics, Cambridge University Press, vol. 20(4), pages 909-953, June.
    • Handle: RePEc:cup:macdyn:v:20:y:2016:i:04:p:909-953_00
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    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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