Market failures in human capital investment and innovation explain the main features of human development and economic growth. This is shown in a Schumpeterian multi-country model with technology transfer and trade. Thus, only institutions expanding investments in nutrition, education, health,…

The debate on the relationship between income, income inequality, and health of the last two decades has been based almost entirely on empirical considerations. The ideas prompting the debate are based on the concave relationship observed between health and income…