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

Author

Listed:
  • AZOMAHOU, Théophile T.
  • BOUCEKKINE, Raouf
  • DIENE, Bity

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 two models departing from perpetual youth" by assuming successively age-dependent earnings and age-dependent survival probabilities. With age-dependent earnings, the obtained relationship is hump-shaped while agedependent survival laws do reproduce the convex-concave shape detected in the prior empirical study.
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Suggested Citation

  • AZOMAHOU, Théophile T. & BOUCEKKINE, Raouf & DIENE, Bity, 2009. "A closer look at the relationship between life expectancy and economic growth," LIDAM Reprints CORE 2115, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:2115
    DOI: 10.1111/j.1742-7363.2009.00105.x
    Note: In : International Journal of Economic Theory, 5, 201-244, 2009
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    Cited by:

    1. Zakir Husain & Mousumi Dutta & Nidhi Chowdhary, 2014. "Is Health Wealth? Results of a Panel Data Analysis," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 117(1), pages 121-143, May.
    2. Drouhin, Nicolas, 2020. "Non-stationary additive utility and time consistency," Journal of Mathematical Economics, Elsevier, vol. 86(C), pages 1-14.
    3. Growiec, Jakub, 2010. "Human Capital, Aggregation, And Growth," Macroeconomic Dynamics, Cambridge University Press, vol. 14(2), pages 189-211, April.
    4. Kuhn, Michael & Prettner, Klaus, 2016. "Growth and welfare effects of health care in knowledge-based economies," Journal of Health Economics, Elsevier, vol. 46(C), pages 100-119.
    5. Hippolyte d'Albis & Emmanuelle Augeraud-Véron, 2013. "Frequency of trade and the determinacy of equilibrium in economies of overlapping generations," International Journal of Economic Theory, The International Society for Economic Theory, vol. 9(1), pages 85-100, March.
    6. Wang, Zhaohua & Asghar, Muhammad Mansoor & Zaidi, Syed Anees Haider & Nawaz, Kishwar & Wang, Bo & Zhao, Wehui & Xu, Fengxing, 2020. "The dynamic relationship between economic growth and life expectancy: Contradictory role of energy consumption and financial development in Pakistan," Structural Change and Economic Dynamics, Elsevier, vol. 53(C), pages 257-266.
    7. Maik T. Schneider & Ralph Winkler, 2021. "Growth and Welfare under Endogenous Lifetimes," Scandinavian Journal of Economics, Wiley Blackwell, vol. 123(4), pages 1339-1384, October.
    8. Humaira Kamal Pasha, 2021. "Education Attainment and Economic Growth of Asian Developing Countries," Working Papers hal-03230025, HAL.
    9. D'ALBIS Hippolyte & AUGERAUD-VÉRON Emmanuelle, 2009. "Continuous-Time Overlapping Generations Models," LERNA Working Papers 09.15.291, LERNA, University of Toulouse.
    10. Aditya Goenka & Saqib Jafarey & William Pouliot, 2012. "Pollution, Mortality and Optimal Environmental Policy," Discussion Papers 12-05, Department of Economics, University of Birmingham.
    11. Growiec, Jakub & Groth, Christian, 2015. "On aggregating human capital across heterogeneous cohorts," Mathematical Social Sciences, Elsevier, vol. 78(C), pages 21-38.
    12. Mathieu Lefèbvre & Pierre Pestieau & Gregory Ponthiere, 2019. "Premature mortality and poverty measurement in an OLG economy," Journal of Population Economics, Springer;European Society for Population Economics, vol. 32(2), pages 621-664, April.
    13. Luciano Fanti & Mimmo Iannelli & Piero Manfredi, 2013. "Neoclassical growth with endogenous age distribution. Poverty vs low-fertility traps as steady states of demographic transitions," Journal of Population Economics, Springer;European Society for Population Economics, vol. 26(4), pages 1457-1484, October.
    14. Katarzyna Growiec & Jakub Growiec & Bogumił Kamiński, 2020. "Emergence of Small-World Networks in an Overlapping-Generations Model of Social Dynamics, Trust and Economic Performance," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 23(2), pages 1-8.
    15. Mohammad Reza Farzanegan, 2023. "Years of life lost to revolution and war in Iran," Review of Development Economics, Wiley Blackwell, vol. 27(4), pages 2061-2103, November.
    16. Aysit Tansel & Ceyhan Ozturk & Erkan Erdil, 2021. "The Impact of Body Mass Index on Growth, Schooling, Productivity, and Savings: A Cross-Country Study," Koç University-TUSIAD Economic Research Forum Working Papers 2118, Koc University-TUSIAD Economic Research Forum.
    17. Ponthiere, Gregory, 2011. "Existence and stability of overconsumption equilibria," Economic Modelling, Elsevier, vol. 28(1), pages 74-90.
    18. David Oxborrow & Stephen J. Turnovsky, 2017. "Closing the Small Open Economy Model: A Demographic Approach," Review of International Economics, Wiley Blackwell, vol. 25(1), pages 44-75, February.
    19. Zhiheng Chen & Yuting Ma & Junyi Hua & Yuanhong Wang & Hongpeng Guo, 2021. "Impacts from Economic Development and Environmental Factors on Life Expectancy: A Comparative Study Based on Data from Both Developed and Developing Countries from 2004 to 2016," IJERPH, MDPI, vol. 18(16), pages 1-18, August.
    20. Goenka, Aditya & Jafarey, Saqib & Pouliot, William, 2020. "Pollution, mortality and time consistent abatement taxes," Journal of Mathematical Economics, Elsevier, vol. 88(C), pages 1-15.
    21. Ferreira Paulo & Dionísio Andreia, 2016. "GDP growth and convergence determinants in the European Union: a crisp-set analysis," Review of Economic Perspectives, Sciendo, vol. 16(4), pages 279-296, December.
    22. Wei-Bin Zhang, 2014. "Endogenous population with human and physical capital accumulation," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 61(3), pages 231-252, September.
    23. Katarzyna Growiec & Jakub Growiec & Bogumil Kaminski, 2018. "Social Network Dynamics: Individual-Level Mechanisms and Aggregate Outcomes," KAE Working Papers 2018-036, Warsaw School of Economics, Collegium of Economic Analysis.
    24. Maik Schneider & Ralph Winkler, 2016. "Growth and Welfare under Endogenous Lifetime," Department of Economics Working Papers 47/16, University of Bath, Department of Economics.
    25. MAHYAR Hami, 2016. "Economic Growth And Life Expectancy: The Case Of Iran," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 11(1), pages 80-87, April.

    More about this item

    JEL classification:

    • O41 - Economic Development, Innovation, 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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