The Role of Financial Development and Economic Misery on Life Expectancy: Evidence from Post Financial Reforms in India

Md. Samsul Alam, Muhammad Shahbaz, Sudharshan Reddy Paramati

    Research output: Contribution to journalArticle

    7 Citations (Scopus)

    Abstract

    This paper examines the impact of financial development and economic misery on life expectancy after the implementation of financial reforms in the case of Indian economy. Economic growth, education expenditure and rural–urban income inequality are included as additional determinants of life expectancy over the period of 1990QI–2013QIV. Our empirical findings from the combined cointegration approach confirm the long-run equilibrium relationship among life expectancy, economic growth, economic misery, education expenditure, financial development and rural–urban income inequality. Further, our results on the long-run impact suggest that financial development, economic growth and education expenditure have a significant and positive impact on life expectancy while economic misery and rural–urban income inequality have a substantial negative impact. Our findings offer a significant contribution to the policy and to the body of knowledge. Policy makers can formulate appropriate policies towards reducing rural–urban income inequality and economic misery so that life expectancy can further increase in India.

    Original languageEnglish
    Pages (from-to)481-497
    Number of pages17
    JournalSocial Indicators Research
    Volume128
    Issue number2
    Early online date22 Jul 2015
    DOIs
    Publication statusPublished - Sep 2016

    Keywords

    • Economic misery
    • Financial development
    • India
    • Life expectancy

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