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A Fresh Look at the Health-Wealth Correlation: A Case Study of European Countries

Shoshana Neuman (shoshana.neuman@biu.ac.il), Tzahi Neuman and Teresa García-Muñoz (tgarciam@ugr.es)

No 52, Discussion Papers from Central European Labour Studies Institute (CELSI)

Abstract: This paper contributes to the development-health literature by studying the correlation between development measures (see below) and health measures - one subjective ('self-assessed-health-status'), and the other one objective (the individual's 'number of chronic diseases'). Correlations are examined for 29 European countries, using the SHARE data set, and country-level development measures. Specifically, we examine whether country fixed-effects in regressions of health measures, controlling for individual socio-demographic variables, are significantly correlated with country development variables, which include: logarithm of per-capita GDP; the Human Development Index; the Social Progress Index; life expectancy; percentage of GDP spent on health; and the novel measure expressed by the Environmental Health Index. The novelty of our study is the introduction of a channel for the significant health-wealth correlation, speculating that the driving forces are psychological.

Keywords: development; self-assessed-health-status; diseases; environmental hazards; psychological motives; SHARE; Europe (search for similar items in EconPapers)
JEL-codes: I1 I15 (search for similar items in EconPapers)
Date: 2019-10-07
New Economics Papers: this item is included in nep-eur and nep-hea
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Persistent link: https://EconPapers.repec.org/RePEc:cel:dpaper:52

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