nach oben

Empirical Economics

Erschienen in:

27.11.2018

The linkages between life expectancy and economic growth: some new evidence

verfasst von: Lei He, Na Li

Erschienen in: Empirical Economics | Ausgabe 5/2020

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

Using panel cointegration analysis and panel causality test, this paper investigates the long- and short-run linkages between life expectancy and economic growth for 65 countries within three levels of aging from 1980 to 2014. The estimation results indicate that there are significantly positive long-run relationships between life expectancy and GDP per capita (or total GDP) in most countries, but the specific relationships vary across aging levels. The positive impact of life expectancy on economic growth is stronger in group with higher level of aging. The panel causality tests reveal that there is short-run unidirectional causality running from life expectancy to economic growth for younger group, whereas there is unidirectional causality running from economic growth to life expectancy only for older group. The above conclusions further imply that population aging is affecting the linkages between life expectancy and economic growth.

Vorheriger Artikel Estimating factor shares from nonstationary panel data

Nächster Artikel The impact of productive and non-productive government expenditure on economic growth: an empirical analysis in high-income versus low- to middle-income economies

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

There are some countries which experience a rapid aging during the period 1980–2014. For example, Japan’s share of elderly population grows rapidly from 9.045% in 1980 to 25.70% in 2014. The countries with rapid aging will cross two groups. The samples including these countries are not conductive to investigate rigorously the difference of causal relationships between life expectancy and economic for three groups with differing level of aging. Thus, the panel data in our work only remain the countries with relative stable population age structure during 1980–2014.

Acemoglu D, Johnson S (2007) Disease and development: the effect of life expectancy on economic growth. J Polit Econ 115:925–985CrossRef

Arellano M, Bond S (1991) Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Rev Econ Stud 58:277–297CrossRef

Barro RJ, Sala-I-Martin XI (1995) Economic growth. McGraw-Hill, New York

Bloom DE, Canning D (2007) Commentary: the Preston curve 30 years on: still sparking fires. Int J Epidemiol 36:498–499CrossRef

Bloom D, Canning D, Fink G (2014) Disease and development revisited. J Polit Econ 122:1355–1366CrossRef

Boucekkine R, La Croix DD, Licandro O (2002) Vintage human capital, demographic trends, and endogenous growth. J Econ Theory 104:340–375CrossRef

Cervellati M, Sunde U (2011) Life expectancy and economic growth: the role of the demographic transition. J Econ Growth 16:99–133CrossRef

Cutler D, Deaton A, Lleras-Muney A (2006) The determinants of mortality. J Econ Perspect 20:97–120CrossRef

Dalgaard C, Strulik H (2011) Optimal aging and death: understanding the Preston curve. Discussion Papers No. 11-09, University of Copenhagen

Deaton A (2006) Global patterns of income and health: facts, interpretations, and policies. Working paper no. 12735, NBER

Desbordes R (2011) The non-linear effects of life expectancy on economic growth. Econ Lett 112:116–118CrossRef

Echevarría CA (2004) Life expectancy, schooling time, retirement and growth. Econ Inq 42:602–617CrossRef

Echevarría CA, Iza A (2006) Life expectancy, human capital, social security and growth. J Public Econ 90:2323–2349CrossRef

Ehrlich I, Lui FT (1991) Intergenerational trade, longevity, and economic growth. J Polit Econ 99:1029–1059CrossRef

Engle RF, Granger CWJ (1987) Cointegration and error correction: representation, estimation, and testing. Econometrica 55:257–276

Galea S (2007) Macrosocial determinants of population health. Springer, BerlinCrossRef

Hansen CW, Lønstrup L (2015) The rise in life expectancy and economic growth in the 20th century. Econ J 125:838–852CrossRef

Hazan M, Zoabi H (2006) Does Longevity cause growth? A theoretical critique. J Econ Growth 11:363–376CrossRef

Hickson KJ (2009) The contribution of increased life expectancy to economic development in twentieth century Japan. J Asian Econ 20:489–504CrossRef

Kalemli-Ozcan S, Ryder HE, Weil DN (2000) Mortality decline, human capital investment, and economic growth. J Dev Econ 62:1–23CrossRef

Kao C (1999) Spurious regression and residual based tests for cointegration in panel data. J Econom 90:1–44CrossRef

Kao C, Chiang MH (1997) On the estimation and inference of a cointegrated regression in panel data. Adv Econ 15:109–141

Kinsella K, He W (2009) An aging world: 2008. US Census Bureau, Washington

Kinugasa T, Mason A (2007) Why countries become wealthy: the effects of adult longevity on saving. World Dev 35:1–23CrossRef

Kunze L (2014) Life expectancy and economic growth. J Macroecon 39:54–65CrossRef

Lee C, Lee C, Chiu Y (2013) The link between life insurance activities and economic growth: some new evidence. J Int Money Financ 32:405–427CrossRef

Leung MCM, Wang Y (2010) Endogenous health care, life expectancy and economic growth. Pac Econ Rev 15:11–31CrossRef

Li H, Zhang J, Zhang J (2007) Effects of longevity and dependency rates on saving and growth: evidence from a panel of cross countries. J Dev Econ 84:138–154CrossRef

Mandal SK, Madheswaran S (2010) Causality between energy consumption and output growth in the Indian cement industry: an application of the panel vector error correction model (VECM). Energy Policy 38:6560–6565CrossRef

Pedroni P (2004) Panel cointegration: asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis. Econom Theor 20:597–625CrossRef

Preston SH (1975) The changing relation between mortality and level of economic development. Pop Stud 29:231–248CrossRef

Preston SH (2007) The changing relation between mortality and level of economic development. Int J Epidemiol 36:484–490CrossRef

Vogelsang EM (2014) Local-area age structure and population composition: implications for elderly health in Japan. J Aging Health 26:155–177CrossRef

Wooldridge JM (2015) Introductory econometrics (sixth editor). Cengage Learning, Boston

Yakita A (2006) Life expectancy, money, and growth. J Popul Econ 19:579–592CrossRef

Zhang J, Zhang J (2005) The effect of life expectancy on fertility, saving, schooling and economic growth: theory and evidence. Scand J Econ 107:45–66CrossRef

Zhang J, Zhang J, Lee R (2001) Mortality decline and long-run economic growth. J Pub Econ 80:485–507CrossRef

Titel: The linkages between life expectancy and economic growth: some new evidence
verfasst von: Lei He
Na Li
Publikationsdatum: 27.11.2018
Verlag: Springer Berlin Heidelberg
Erschienen in: Empirical Economics / Ausgabe 5/2020
Print ISSN: 0377-7332
Elektronische ISSN: 1435-8921
DOI: https://doi.org/10.1007/s00181-018-1612-7

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft"

Springer Professional "Wirtschaft+Technik"

Weitere Artikel der Ausgabe 5/2020

Crowds in or crowds out? The effect of foreign direct investment on domestic investment in Chinese cities

Multi-valued Double Robust quantile treatment effect

Bayesian semiparametric quantile regression modeling for estimating earthquake fatality risk

Recasting the trade impact on labor share: a fixed-effect semiparametric estimation study

Persistence and unit root in emissions: evidence from disaggregated global and regional data

Asymmetric pricing dynamics with market power: investigating island data of the retail gasoline market

Premium Partner