How does Health Affect Economic Growth and Development
Read
DownLoad |
| Title | How does Health Affect Economic Growth and Development
|
| Author | Wang Dihai,Cui Xiaoyong and Gong Liutang |
| Organization | School of Economics, Fudan University, China,School of Economics, Peking University, China,Guanghua School of Management, Peking University, China |
| Email | wangdihai@fudan.edu.cn；xiaoyongc@gmail.com；ltgong@gsm.pku.edu.cn |
| Key Words | Health Human Capital; Health Investment; Economic Growth; Economic Development |
| Abstract | Health is an important determinant factor in economic growth and development as the same as education. Based on the literature review, the paper discussed the economic mechanism of interaction between health and economic growth and development. The paper concluded that there are three mechanisms of interaction between health and economic growth and development: firstly, health may affect production function through directed and indirect channels. Secondly, since health affect utility function, health has effect on the physical capital investment and human capital investment through health investment. Thirdly, economic growth and development has effect on health through food and nutrition supplies. Based on the three mechanisms of health and economic growth and development, many economic phenomenons can be explained, such as long-run economic growth and economic development, multiply equilibrium and poverty trap, demographic transition and economic transition, and so on. |
| Serial Number | WP467 |
| Time | 2013-06-26 |
|