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

  • Raouf Boucekkine
  • Bity Diene
  • Theophile Azomahou

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 "per- petual 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 a model departing from "perpetual youth" by assuming age-dependent survival probabilities. We show that life-cycle behavior combined with age-dependent sur- vival laws can reproduce our empirical finding.

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Paper provided by Business School - Economics, University of Glasgow in its series Working Papers with number 2007_24.

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Date of creation: Aug 2007
Date of revision:
Handle: RePEc:gla:glaewp:2007_24
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  1. Hamid Faruqee, 2002. "Debt, Deficits, and Age-Specific Mortality," IMF Working Papers 02/19, International Monetary Fund.
  2. BOUCEKKINE, RAOUF & de la CROIX, David & LICANDRO, Omar, 2004. "Modelling vintage structures with DDEs : principles and applications," CORE Discussion Papers 2004047, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. repec:ebl:ecbull:v:9:y:2004:i:3:p:1-10 is not listed on IDEAS
  4. Jappelli, Tullio & Pagano, Marco, 1988. "Consumption and Capital Market Imperfection: An International Comparison," CEPR Discussion Papers 244, C.E.P.R. Discussion Papers.
  5. Kelley, Allen C. & Schmidt, Robert M., 1995. "Aggregate Population and Economic Growth Correlations: The Role of the Components of Demographic Change," Working Papers 95-37, Duke University, Department of Economics.
  6. Raouf Boucekkine & David de la Croix & Omar Licandro, 2003. "Early Mortality Declines at the Dawn of Modern Growth," Scandinavian Journal of Economics, Wiley Blackwell, vol. 105(3), pages 401-418, 09.
  7. Economics department, UCL, Louvain,David de la Croix, CORE & Raouf Boucekkine & David de la Croix & Dominique Peeters, 2006. "Early literacy achievements, population density and the transition to modern growth," Computing in Economics and Finance 2006 205, Society for Computational Economics.
  8. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  9. Bhargava, Alok & Jamison, Dean T. & Lau, Lawrence J. & Murray, Christopher J. L., 2001. "Modeling the effects of health on economic growth," Journal of Health Economics, Elsevier, vol. 20(3), pages 423-440, May.
  10. Shankha Chakraborty, 2002. "Endogenous Lifetime and Economic Growth," University of Oregon Economics Department Working Papers 2002-03, University of Oregon Economics Department, revised 26 Jan 2002.
  11. 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.
  12. 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.
  13. repec:cor:louvrp:-1758 is not listed on IDEAS
  14. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762.
  15. Rosa Aísa & Fernando Pueyo, 2004. "Endogenous longevity, health and economic growth: a slow growth for a longer life?," Economics Bulletin, AccessEcon, vol. 9(3), pages 1-10.
  16. Brander, James A & Dowrick, Steve, 1994. "The Role of Fertility and Population in Economic Growth: Empirical Results from Aggregate Cross-National Data," Journal of Population Economics, Springer, vol. 7(1), pages 1-25.
  17. repec:fda:fdaddt:2004-07 is not listed on IDEAS
  18. Steven A. Symansky & Douglas Laxton & Hamid Faruqee, 1996. "Government Debt, Life-Cycle Income and Liquidity Constrains: Beyond Approximate Ricardian Equivalence," IMF Working Papers 96/140, International Monetary Fund.
  19. repec:fda:fdaddt:2000-02 is not listed on IDEAS
  20. Cruz A. Echevarría, 2004. "Life Expectancy, Schooling Time, Retirement, and Growth," Economic Inquiry, Western Economic Association International, vol. 42(4), pages 602-617, October.
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