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A Closer Look at the Relationship Between Life Expectancy and Economic Growth

  • Azomahou, Théophile

    ()

    (UNU-MERIT)

  • Boucekkine, Raouf

    ()

    (CORE, Universite Catholique de Louvain)

  • Diene, Bity

    ()

    (BETA, Universite Louis Pasteur, Strasbourg)

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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File URL: http://www.merit.unu.edu/publications/wppdf/2008/wp2008-027.pdf
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Paper provided by United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) in its series MERIT Working Papers with number 027.

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Date of creation: 2008
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Handle: RePEc:unm:unumer:2008027
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  1. 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.
  2. Raouf BOUCEKKINE & David de la Croix & Omar LICANDRO, 2002. "Early mortality declines at the dawn of modern growth," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002014, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  3. Raouf Boucekkine & David de la Croix & Dominique Peeters, 2004. "Early Literacy Achievements, Population Density and the Transition to Modern Growth," 2004 Meeting Papers 426, Society for Economic Dynamics.
  4. James A. Brander & Steve Dowrick, 1993. "The Role of Fertility and Population in Economic Growth: Empirical ResultsFrom Aggregate Cross-National Data," NBER Working Papers 4270, National Bureau of Economic Research, Inc.
  5. 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.
  6. Cruz A. Echevarría, 2004. "Life Expectancy, Schooling Time, Retirement, and Growth," Economic Inquiry, Western Economic Association International, vol. 42(4), pages 602-617, October.
  7. repec:fda:fdaddt:2000-02 is not listed on IDEAS
  8. 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.
  9. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  10. Jappelli, Tullio & Pagano, Marco, 1988. "Consumption and Capital Market Imperfection: An International Comparison," CEPR Discussion Papers 244, C.E.P.R. Discussion Papers.
  11. Hamid Faruqee & Douglas Laxton & Steven Symansky, 1997. "Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence," IMF Staff Papers, Palgrave Macmillan, vol. 44(3), pages 374-382, September.
  12. Hamid Faruqee, 2002. "Debt, Deficits, and Age-Specific Mortality," IMF Working Papers 02/19, International Monetary Fund.
  13. repec:cup:cbooks:9780521296762 is not listed on IDEAS
  14. Raouf BOUCEKKINE & David DE LA CROIX & Omar LICANDRO, 2004. "Modelling vintage structures with DDEs: principles and applications," Economics Working Papers ECO2004/06, European University Institute.
  15. repec:ebl:ecbull:v:9:y:2004:i:3:p:1-10 is not listed on IDEAS
  16. 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.
  17. 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.
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  19. repec:fda:fdaddt:2004-07 is not listed on IDEAS
  20. 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.
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