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

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Author Info
Azomahou, Théophile () (UNU-MERIT)
Boucekkine, Raouf () (CORE, Universite Catholique de Louvain)
Diene, Bity () (BETA, Universite Louis Pasteur, Strasbourg)

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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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Paper provided by United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology in its series UNU-MERIT Working Paper Series with number 027.

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Date of creation: 2008
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Handle: RePEc:dgr:unumer:2008027

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Related research
Keywords: Life expectancy; economic growth; perpetual youth; age-dependent mortality; nonparametric estimation;

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Find related papers by JEL classification:
O41 - Economic Development, 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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  5. Raouf, BOUCEKKINE & David de la Croix, 2004. "Modelling vintage structures with DDEs : principles and applications," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2004004, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
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  6. 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)
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  14. Cruz A. Echevarría, 2004. "Life Expectancy, Schooling Time, Retirement, and Growth," Economic Inquiry, Oxford University Press, vol. 42(4), pages 602-617, October. [Downloadable!] (restricted)
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