Human Capital Formation, Life Expectancy and the Process of Economic Development
Series
IZA - Discussion papers
Type
discussion paper
Date Issued
2002-09-01
Author(s)
Sunde, Uwe
;
Cervellati, Matteo
Abstract
This paper provides a unified theory of the transition in income, life expectancy, education and population, experienced by the Western world when passing from an environment of economic stagnation to sustained growth. The transition is based on the interplay between human capital formation, technological progress, and life expectancy. A positive feedback between human capital accumulation and longevity is eventually triggered when endogenous skill-biased technological progress provides sufficiently high returns to human capital for large fractions of the population to outweigh the costs in terms of lifetime spent on education.
Language
English
Keywords
long-term development
endogenous life expectancy
heterogeneous human capital
technological progress
industrial revolution
HSG Classification
contribution to practical use / society
Refereed
Yes
Publisher
IZA
Publisher place
Bonn, Deutschland
Number
585
Start page
32
Subject(s)
Division(s)
Eprints ID
71725