Rising longevity, education, savings, and growth
Publication in refereed journal

香港中文大學研究人員

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摘要This paper examines the impact of declines in adult mortality on growth in an overlapping generations model. With public education and imperfect annuity markets, a decline in mortality affects growth through three channels. First, it raises the saving rate and thereby increases the rate of physical capital accumulation. Second, it reduces accidental bequests, lowers investment, and thereby lowers the rate of physical capital accumulation. Third, it may lead the median voter to increase the tax rate for public education initially but lower the tax rate in a later stage. Starting from a high mortality rate as found in many Third World populations, the net effect of a decline in mortality is to raise the growth rate. However, starting from a low mortality rate such as is found in most industrial populations, the net effect of a further decline in mortality is to reduce the growth rate. The findings appear consistent with recent empirical evidence. (C) 2002 Elsevier Science B.V All rights reserved.
著者Zhang H, Zhang JS, Lee R
期刊名稱Journal of Development Economics
出版年份2003
月份2
日期1
卷號70
期次1
出版社ELSEVIER SCIENCE BV
頁次83 - 101
國際標準期刊號0304-3878
電子國際標準期刊號1872-6089
語言英式英語
關鍵詞education; growth; longevity; savings
Web of Science 學科類別Business & Economics; Economics; ECONOMICS

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