Health, education, and life cycle savings in the development process

Tang, Kam Ki and Zhang, Jie (2007) Health, education, and life cycle savings in the development process. Economic Inquiry, 45 3: 615-630. doi:10.1111/j.1465-7295.2007.00020.x

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Author Tang, Kam Ki
Zhang, Jie
Title Health, education, and life cycle savings in the development process
Journal name Economic Inquiry   Check publisher's open access policy
ISSN 0095-2583
Publication date 2007-01-01
Sub-type Article (original research)
DOI 10.1111/j.1465-7295.2007.00020.x
Volume 45
Issue 3
Start page 615
End page 630
Total pages 16
Editor Sarno, L.
Taylor, M. P.
Place of publication Oxford
Publisher Blackwell Publishing
Language eng
Subject C1
14 Economics
Abstract This paper studies investment in health and human capital in a life cycle model. Health investment enhances survival to old age by improving health from its endowed level. The model predicts two distinctive phases of development. When income is low enough, the economy has no health investment and little savings, leading to slow growth. When income grows, health investment will become positive and the saving rate will rise, leading to higher life expectancy and faster growth. A health subsidy can move the economy from the first phase to the next. Subsidies on health and human capital investments can improve welfare.
Keyword Economics
Economic-growth
Endogenous Growth
Longevity
Mortality
Expectancy
Model
Q-Index Code C1
Q-Index Status Confirmed Code

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
2008 Higher Education Research Data Collection
School of Economics Publications
 
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Citation counts: TR Web of Science Citation Count  Cited 9 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 12 times in Scopus Article | Citations
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Created: Tue, 19 Feb 2008, 03:35:50 EST