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The GDP value of twentieth-century health improvements in developed economies : initial estimates for England
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Hickson, Kerry Jane (2014) The GDP value of twentieth-century health improvements in developed economies : initial estimates for England. Review of Income and Wealth, Volume 60 (Number 2). pp. 385-399. doi:10.1111/j.1475-4991.2012.00524.x ISSN 0034-6586.
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Official URL: http://dx.doi.org/10.1111/j.1475-4991.2012.00524.x
Abstract
Economists are aware that conventional measures of national income do not capture everything that is important to individuals. In particular, the value of huge improvements in health over the twentieth century has gone uncalculated. Usher and Nordhaus have emphasized the virtues of including mortality improvements in some form of extended national income measure. This article therefore sets out a methodology that can be used to calculate the value of mortality and morbidity improvements. The results for England indicate that the value of health improvements in developed economies have added at least 0.3 percent per annum to twentieth-century GDP growth rates. The results demonstrate that those interested in understanding improvements in economic welfare need to pay much more attention to improvements in health.
Item Type: | Journal Article | ||||||
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Divisions: | Faculty of Social Sciences > Economics | ||||||
Journal or Publication Title: | Review of Income and Wealth | ||||||
Publisher: | Wiley-Blackwell Publishing, Inc. | ||||||
ISSN: | 0034-6586 | ||||||
Official Date: | June 2014 | ||||||
Dates: |
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Volume: | Volume 60 | ||||||
Number: | Number 2 | ||||||
Page Range: | pp. 385-399 | ||||||
DOI: | 10.1111/j.1475-4991.2012.00524.x | ||||||
Status: | Peer Reviewed | ||||||
Publication Status: | Published | ||||||
Access rights to Published version: | Restricted or Subscription Access |
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