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Social Indicators Research

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22-07-2015

The Role of Financial Development and Economic Misery on Life Expectancy: Evidence from Post Financial Reforms in India

Authors: Md. Samsul Alam, Muhammad Shahbaz, Sudharshan Reddy Paramati

Published in: Social Indicators Research | Issue 2/2016

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Abstract

This paper examines the impact of financial development and economic misery on life expectancy after the implementation of financial reforms in the case of Indian economy. Economic growth, education expenditure and rural–urban income inequality are included as additional determinants of life expectancy over the period of 1990QI–2013QIV. Our empirical findings from the combined cointegration approach confirm the long-run equilibrium relationship among life expectancy, economic growth, economic misery, education expenditure, financial development and rural–urban income inequality. Further, our results on the long-run impact suggest that financial development, economic growth and education expenditure have a significant and positive impact on life expectancy while economic misery and rural–urban income inequality have a substantial negative impact. Our findings offer a significant contribution to the policy and to the body of knowledge. Policy makers can formulate appropriate policies towards reducing rural–urban income inequality and economic misery so that life expectancy can further increase in India.

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Detail discussions and equations of all the models are excluded from the paper due to space limitation.

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Title: The Role of Financial Development and Economic Misery on Life Expectancy: Evidence from Post Financial Reforms in India
Authors: Md. Samsul Alam
Muhammad Shahbaz
Sudharshan Reddy Paramati
Publication date: 22-07-2015
Publisher: Springer Netherlands
Published in: Social Indicators Research / Issue 2/2016
Print ISSN: 0303-8300
Electronic ISSN: 1573-0921
DOI: https://doi.org/10.1007/s11205-015-1040-4

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