Bucci, Alberto
[VerfasserIn]
;
Carbonari, Lorenzo
[Sonstige Person, Familie und Körperschaft];
Ranalli, Monia
[Sonstige Person, Familie und Körperschaft];
Trovato, Giovanni
[Sonstige Person, Familie und Körperschaft]
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 16, 2019 erstellt
Beschreibung:
In this paper we examine whether the Solow growth model is consistent with across-countries variations in standard of living once investments in education and health are explicitly and simultaneously taken into account. Using a sample of low- and middle-income economies, we provide evidence that per capita GDP is positively affected by population's health, here proxied by the life expectancy at birth. Public expenditure on health affects indirectly the level of per capita income through its positive effect on life expectancy. Using a Finite Mixture approach, we also show that richer economies are those where the impact of unobserved factors on the level of per capita income is stronger