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Muhammad Jami Husain
''Alternative Estimates of the Effect of the Increase of Life Expectancy on Economic Growth''
( 2012, Vol. 32 No.4 )
Until recently the literature has found evidence of a positive, significant, and sizable influence of life expectancy on economic growth. This view has been challenged by Acemoglu and Johnson (2007). They find no evidence that the large exogenous increase in life expectancy led to a significant increase in per capita economic growth. This paper takes up the modelling and estimation framework presented in Acemoglu and Johnson (2007), and presents alternative estimates on the impact of life expectancy on population, GDP, and GDP per capita by using alternative instrument, timeline, and country groups. The findings suggest that the results differ significantly from that provided in Acemoglu and Johnson (2007); that the generalization of the pessimistic outcomes with regards to the impact of life expectancy on income per capita requires caution; and the increase of life expectancy may have had a positive impact on income per capita growth.
Keywords: Life Expectancy, Income per capita, Economic Growth, Immunization, Instruments
O4 - Economic Growth and Aggregate Productivity: General
Manuscript Received : Sep 14 2012 Manuscript Accepted : Oct 30 2012

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