Lifelong Education and Health Investment: Implications for Life Expectancy, Economic Growth and Public Policy (2008-2010)

In the past half of a century, most OECD countries have witnessed a rapidly ageing population and steadily falling retirement age and saving rates. Maintaining workforce participation rates and productivity becomes an urgent issue for the economic sustainability of these countries; lifetime investment in education and health is believed to play a big role. This project examines: (1) how the allocation of resources to health and education investments between young and old workers impact on labour participation and productivity; and (2) how public investment on health and education can be used to promote economic growth and enhance social welfare.