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Francisco Parro and Patricio Valenzuela
''Longevity, Human Capital and Domestic Investment''
( 2018, Vol. 38 No.3 )
This article explores the interaction between aggregate initial human capital, life expectancy and domestic investment. The article introduces a simple model that predicts that the positive effect of life expectancy on the domestic investment rate is mitigated in economies with a higher level of initial human capital. Using a large panel of countries over the past five decades, the article presents empirical evidence consistent with the main prediction of the model.
Keywords: Domestic investment; Life expectancy; Human capital
JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
J1 - Demographic Economics: General
Manuscript Received : Jul 19 2018 Manuscript Accepted : Sep 07 2018

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