Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.jdeveco.2006.10.002
Title: Effects of longevity and dependency rates on saving and growth: Evidence from a panel of cross countries
Authors: Li, H.
Zhang, J. 
Zhang, J.
Keywords: Growth
Longevity
Old-age dependency
Saving
Issue Date: 2007
Source: Li, H.,Zhang, J.,Zhang, J. (2007). Effects of longevity and dependency rates on saving and growth: Evidence from a panel of cross countries. Journal of Development Economics 84 (1) : 138-154. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jdeveco.2006.10.002
Abstract: While earlier empirical studies found a negative saving effect of old-age dependency rates without considering longevity, recent studies have found that longevity has a positive effect on growth without considering old-age dependency rates. In this paper, we first justify the related yet independent roles of longevity and old-age dependency rates in determining saving and growth by using a growth model that encompasses both neoclassical and endogenous growth models as special cases. Using panel data from a recent World Bank data set, we then find that the longevity effect is positive and the dependency effect is negative in savings and investment regressions. The estimates indicate that the differences in the demographic variables across countries or over time can well explain the differences in aggregate savings rates. We also find that both population age structure and life expectancy are important contributing factors to growth.©2006 Elsevier B.V. All rights reserved.
Source Title: Journal of Development Economics
URI: http://scholarbank.nus.edu.sg/handle/10635/19963
ISSN: 03043878
DOI: 10.1016/j.jdeveco.2006.10.002
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