The Fogel Approach to Health and Growth

Dihai Wang and Heng-Fu Zou ()

No 520, CEMA Working Papers from China Economics and Management Academy, Central University of Finance and Economics

Abstract: According to Robert Fogel (1994a, 1994b), nutrition is the driving force for the increase in health human capital, which in turn has significantly promoted economic growth in the long run. In this paper, we take Fogel¡¯s finding to extend the standard Ramsey model by including the effect of consumption on nutrition and health human capital formation. It is demonstrated that there exist multiple equilibria in the modified Ramsey model with a subsistence level of consumption. That is to say, different countries may end up with different levels of long-run consumption, nutrition, health human capital, and physical capital.

Keywords: Health Human Capital; Consumption; Economic Growth; Poverty Trap (search for similar items in EconPapers)
JEL-codes: D99 E21 I12 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2011
New Economics Papers: this item is included in nep-fdg, nep-hea and nep-hrm
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Persistent link: https://EconPapers.repec.org/RePEc:cuf:wpaper:520

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