The Role of Health in Economic Development
نویسندگان
چکیده
The role of health in economic development is analyzed via two channels: the direct labor productivity e¤ect and the indirect incentive e¤ect. The labor productivity hypothesis asserts that individuals who are healthier have higher returns to labor input. This is well tested in the empirical literature with mixed conclusions. The incentive e¤ect is borne of the theoretical literature, and individuals who are healthier and have a greater life expectancy will have the incentive to invest in education as the time horizon over which returns can be earned is extended. Education is the driver of economic growth, and thus health plays an indirect role. Accounting for the simultaneous determination of the key variables growth, education, fertility the results show that the indirect e¤ect of health is positive and signi cant. Without recognition of the indirect role of health the economic bene ts of health improvements are underestimated.
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