Health care and Economic Growth

Pascal Gourdel, Liem Hoang Ngoc, Cuong Le van and Tédie Mazamba

Annals of Economics and Statistics, 2004, issue 75-76, 257-272

Abstract: In this paper we adapt a discrete time version of the Lucas model to a model with social protection where part of the total production is devoted to the health expenditures. The output is produced by labor and the technology exhibits externalities. The rate of growth of human capital depends on the ratio of health expenditures over GDP. We give conditions for which the optimal himan capital sequences are increasing. When the instantaneous utility function is isoelastic and the production function is Cobb-Douglas, we prove that the optimal himan capital sequences grow at constant rate. Moreover, we prove there exists a unique equilibrium in the sense of Lucas [1988] or Romer [1986].

Date: 2004
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Working Paper: Health Care and Economic Growth (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:2004:i:75-76:p:257-272

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