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| Francisco Parro and Patricio Valenzuela |
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| ''Longevity, Human Capital and Domestic Investment'' |
| ( 2018, Vol. 38 No.3 ) |
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| 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. |
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| 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 |
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| Manuscript Received : Jul 19 2018 | | Manuscript Accepted : Sep 07 2018 |
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