Basic needs, government debt and economic growth

Perlo-Freeman , S. and Webber, D. J. (2009) Basic needs, government debt and economic growth. World Economy, 32 (6). pp. 965-994. ISSN 0378-5920

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Publisher's URL: http://dx.doi.org/10.1111/j.1467-9701.2009.01181.x

Abstract

This paper investigates the relationships between basic needs and economic growth where the interactions between output, health, nutrition and education are explicitly simultaneous. We find a unidirectional relationship that improving basic welfare contributes strongly to labour productivity change, but a clear reverse causation only from growth to nutrition. There are substantial differences in the patterns of simultaneous interactions at different income and welfare levels. There are strong self-reinforcing effects of literacy and debt service on poverty, making it difficult for poor countries to rectify their situation. Channelling resources towards improving health, education and nutrition could bring dramatic economic returns.

Item Type:Article
Uncontrolled Keywords:income, health, education, nutrition, government debt, womens’ education
Faculty/Department:Faculty of Business and Law > Department of Accounting, Economics and Finance
ID Code:15907
Deposited By: Professor D. Webber
Deposited On:02 Nov 2011 15:35
Last Modified:29 Nov 2013 00:44

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