A closer look at the relationship between life expectancy and economic growth

Azomahou, Théophile T., Boucekkine, Raouf and Diene, Bity (2008). A closer look at the relationship between life expectancy and economic growth. UNU-MERIT.

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  • Sub-type Working paper
    Author Azomahou, Théophile T.
    Boucekkine, Raouf
    Diene, Bity
    Title A closer look at the relationship between life expectancy and economic growth
    Publication Date 2008
    Place of Publication Maastricht, NL
    Publisher UNU-MERIT
    Pages 50
    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.
    Keyword Life expectancy
    Economic growth
    Perpetual youth
    Age-dependent mortality
    Nonparametric estimation
    JEL O41
    I20
    J10
    Copyright Holder UNU-MERIT
    Copyright Year 2008
    Copyright type All rights reserved
    ISSN 18719872
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    Created: Wed, 11 Dec 2013, 16:22:50 JST