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| Author: | Zhang, J. Zhang, J. |
| Title: | The effect of life expectancy on fertility, saving, schooling and economic growth: Theory and evidence |
| Journal: | Scandinavian Journal of Economics
2005 : VOL 107:1, p. 45-66 |
| Index terms: | Consumption Financial performance Human capital Education Demography Life expectancy Quality of life Models |
| Language: | eng |
| Abstract: | A simple growth model is constructed where agents with uncertain survival choose schooling time (here as: sch-time.), life-cycle consumption and the number of children. It is shown that rising longevity reduces fertility (here as: f.) but raises saving, sch-time. and the growth rate at a diminishing rate. Cross-section analyses using data from 76 countries support these propositions: life expectancy (here as: l-exp.) has a significant positive effect on the saving rate (here as: s-rt.), secondary school enrollment and growth but a significant negative effect on f. Through sensitivity analyses, the effect on the s-rt. is inconclusive, while the effects on the other variables are robust and consistent. These estimated effects are decreasing in l-exp. |
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