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Title:Human Capital Formation, Life Expectancy and the Process of Economic Development PDF Logo
Authors:Cervellati, Matteo
Sunde, Uwe
Issue Date:2002
Series/Report no.:IZA Discussion paper series 585
Abstract:This paper presents a non-Malthusian theory of long-term development We model the interplay between the process of human capital formation, technological progress, and the biological constraint of finite lifetime expectancy. All these processes are interdependent and determined endogenously. The model is analytically solved and simulated for illustrative purposes. The resulting dynamics reproduce a long period of stagnant growth as well as an endogenous and rapid transition to a situation characterized by permanent growth. This transition can be interpreted as industrial revolution. Historical and empirical evidence is discussed and shown to be in line with the predictions of the model.
Subjects:long-term development
endogenous life expectancy
heterogeneous human capital
technological progress
industrial revolution
JEL:J10
E10
O41
O40
O10
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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