Health human capital and economic growth in Sub-Saharan African and OECD countries |
| |
| Institution: | 1. Department of Economics, University of South Florida & Program Director, Economics National Science Foundation, 4201 Wilson Blvd., Romm 995.19, Arlington, VA 22230, USA;2. Department of Economics, College of Business Administration, University of South Florida, 140 Seventh Avenue South, St. Petersburg, FL 33701-5016, USA;1. School of Business, Faculty of Business and Law, University of Wollongong, Australia;2. Tasmanian School of Business and Economics, University of Tasmania, Australia;3. Copenhagen School of Energy Infrastructure, Copenhagen Business School, Denmark;1. Thomas Sankara University, Department of Economics, CEDRES, 12 BP 417 Ouagadougou 12, Burkina Faso;2. The University of Yaounde II, Department of Economics, CEREG, P.O. Box: 1365, Yaounde, Cameroon;3. Pan African University Institute of Governance, Humanities and Social Sciences, P. O. Box 18-Soa, Yaounde, Cameroon;1. Ege University, Department of Economics, Izmir, Turkey;2. Heinrich Heine University, Düsseldorf, Germany |
| |
| Abstract: | This paper investigates the effects of health human capital on the growth rate of per capita income in Sub-Saharan African and OECD countries. Using an expanded Solow growth model, panel data, and a dynamic panel estimator, we find that the growth rate of per capita income is strongly and positively influenced by the stock of, and investment in, health human capital after controlling for other variables. The stock of health human capital affects the growth rate of per capita income in a quadratic way: the growth impact of health human capital decreases at relatively large endowments of health stock. Our estimates suggest that 22% and 30% of the transition growth rate of per capita income in Sub-Saharan African and OECD countries respectively, can be attributed to health. The structure of the relationship between health human capital and the growth rate of income in Sub-Saharan African countries is similar to the structure of the relationship in OECD countries. This implies that increased stocks of health human capital leads to higher steady state income. Our results have interesting policy implications. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
