Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 张俊森教授 (经济学系) |
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Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/49WOS source URL
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摘要This paper examines the impact of declines in adult mortality on growth in an overlapping generations model. With public education and imperfect annuity markets, a decline in mortality affects growth through three channels. First, it raises the saving rate and thereby increases the rate of physical capital accumulation. Second, it reduces accidental bequests, lowers investment, and thereby lowers the rate of physical capital accumulation. Third, it may lead the median voter to increase the tax rate for public education initially but lower the tax rate in a later stage. Starting from a high mortality rate as found in many Third World populations, the net effect of a decline in mortality is to raise the growth rate. However, starting from a low mortality rate such as is found in most industrial populations, the net effect of a further decline in mortality is to reduce the growth rate. The findings appear consistent with recent empirical evidence. (C) 2002 Elsevier Science B.V All rights reserved.
着者Zhang H, Zhang JS, Lee R
期刊名称Journal of Development Economics
出版年份2003
月份2
日期1
卷号70
期次1
出版社ELSEVIER SCIENCE BV
页次83 - 101
国际标準期刊号0304-3878
电子国际标準期刊号1872-6089
语言英式英语
关键词education; growth; longevity; savings
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
