Gong, Liutang; Li, Hongyi; Wang, Dihai - In: China Economic Review 23 (2012) 4, pp. 1104-1119
This paper analyzes the effect of health investment, and hence of health capital, on physical capital accumulation and long-run economic growth in an extended Ramsey model with an Arrow–Romer production function and a Grossman (1972) utility function. The paper concludes that economic growth...