From physical to human capital accumulation: Effects of mortality changes
From physical to human capital accumulation: Effects of mortality changes
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DOI：
10.1016/j.red.2019.03.005
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发表时间：
2019-10-01
影响因子：
2
通讯作者：
Yasui, Daishin
中科院分区：
文献类型：
--
作者：
Minamimura, Keiya;Yasui, Daishin
本文根据Galor和Moav（2004）的观点建立了一个增长模型，该模型将人力资本积累取代物质资本积累作为增长的主要动力。我们表明，（1）死亡率的下降促进了这种替代，（2）死亡率的下降对人均收入的影响在发展过程的各个阶段是不同的。我们的理论有一个值得注意的预测，即一个经济体的教育水平越高，死亡率的降低就越有可能增加人均收入。使用有限混合模型，我们表明，这一预测是支持的数据。我们的研究结果为Acemoglu和约翰逊（2007）报告的预期寿命对增长的负面影响提供了新的解释。(C)2019爱思唯尔公司All rights reserved.
This paper develops a growth model a la Galor and Moav (2004) that captures the replacement of physical capital accumulation by human capital accumulation as the prime engine of growth. We show that (i) decreased mortality promotes this replacement, and (ii) the effect of a decrease in mortality on per-capita income differs across the phases of the development process. A notable prediction of our theory is that the higher the level of education in an economy, the more likely it is that a decrease in mortality will increase income per capita. Using finite mixture models, we show that this prediction is supported by the data. Our results provide a new interpretation on the negative effect of life expectancy on growth reported by Acemoglu and Johnson (2007). (C) 2019 Elsevier Inc. All rights reserved.