文章基本信息

标题：Is Gerontocracy Harmful for Growth? a Comparative Study of Seven European Countries
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作者：Vincenzo Atella ; Lorenzo Carbonari
期刊名称：Journal of Applied Economics
印刷版ISSN：1514-0326
电子版ISSN：1667-6726
出版年度：2017
卷号：20
期号：1
页码：141-168
DOI：10.1016/S1514-0326(17)30007-7
摘要：We study the relationship between gerontocracy and aggregate economic performance in a simple model where growth is driven by human capital accumulation and productive government spending. We show that less patient elites display the tendency to underinvest in public education and productive government services, and thus are harmful for growth. The damage caused by gerontocracy is mainly due to the lack of long-term delayed return on investments, originated by the lower subjective discount factor. An empirical analysis using public investment in Information and Communication Technologies (ICT) is carried out to test theoretical predictions across different countries and different economic sectors. The econometric results confirm our main hypotheses.
关键词：J1 ; O4 ; gerontocracy ; economic growth and aggregate productivity ; education ; ICT