Scandinavian Working Papers in Economics
HERO Online Working Paper Series,
University of Oslo, Health Economics Research Programme
No 2007:8: Endogenous Health Investment, Saving and Growth - A theoretical study with an application to Chinese data
Yan Chen ()
Additional contact information
Yan Chen: Department of Economics, Postal: HERO / Institute of Health Management and Health Economics, P.O. Box 1089 Blindern, NO-0317 Oslo, Norway
Abstract: The idea behind this thesis stems from the existing abundance of empirical studies suggesting the strong correlation between longevity and economic growth. In a simple two period overlappinggeneration framework, we establish a direct link between health investment and economic growth through endogenous survival rate. We find that health expenditure complements saving in equilibrium, thereby contributes to economic growth, which in turn leads to a further increase in health investment. The simulation with calibrated parameters also manifests the consistence between our results and the worldwide data as well as the fact of China.
Keywords: health investment; economic growth; China
JEL-codes: I31
51 pages, June 3, 2009
Full text files
HERO2007_8.pdf
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