Why Does Health Capital Increase in the Developed Countries and Decrease in Post-Soviet Russia? (An Attempt at Post Keynesian Explanation)

I. Rozmainsky

Voprosy Ekonomiki, 2011, issue 10

Abstract: The article formulates the post Keynesian approach to dynamics of health capital. The author shows that this dynamics scarcely depends on rational calculation of expected benefits and costs because these are unknown. Investment in health capital is determined mainly by the degree of animal spirits, features of conventional judgment, habits, social norms and rules. In the developed countries these factors contribute to accumulation of health capital and, consequently, increasing life expectancy. In post-Soviet Russia health capital decreases - and life expectancy is low - first of all, due to investor myopia (unwillingness to take into account distant future) caused by higher uncertainty.

Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.vopreco.ru/jour/article/viewFile/1143/1144 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2011:id:1143

DOI: 10.32609/0042-8736-2011-10-113-131

Access Statistics for this article

More articles in Voprosy Ekonomiki from NP Voprosy Ekonomiki
Bibliographic data for series maintained by NEICON ().