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Incorporating changes in life expectancy into economic growth rates: an application to Belgium, 1867-1997

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  • Grégory Ponthière

Abstract

Longevity-adjusted growth rates are computed for Belgium over the period 1867-1997, by using a method based on contributions by Usher (1973a, 1980), Williamson (1984) and Miller (2000). Adjusted growth rates substantially differ from conventional figures, which may have tended to underestimate actual well-being improvements, especially during the second half of the 20th century. The analysis of the size of the adjustments, size which varies across periods, reveals that the post-1974 growth slowdown might have been less severe, in terms of social well-being, than suggested by usual measures. Our results, being robust to the introduction of some degree of endogeneity of longevity, seem to avoid the double-counting criticism. Several shortcomings of our method are discussed and some directions are proposed for future research. It is concluded that, thanks to their richer informational basis, longevity-adjusted growth rates constitute promising indicators to complement usual growth measures in the study of social well-being evolution over time.

Suggested Citation

  • Grégory Ponthière, 2004. "Incorporating changes in life expectancy into economic growth rates: an application to Belgium, 1867-1997," CREPP Working Papers 0403, Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège.
    • Handle: RePEc:rpp:wpaper:0403
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    File URL: http://www2.ulg.ac.be/crepp/papers/crepp-wp200403.pdf
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    1. Shaun Da Costa, 2021. "Estimating the welfare gains from antiretroviral therapy in Sub-Saharan Africa," Working Papers 2101, Herman Deleeck Centre for Social Policy, University of Antwerp.
    2. Da Costa, Shaun, 2023. "Estimating the welfare gains from anti-retroviral therapy in Sub-Saharan Africa," Journal of Health Economics, Elsevier, vol. 90(C).

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