NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
loading...

Finance and Growth: Household Savings, Public Investment, and Public Health in Late Nineteenth-Century New Jersey

Howard Bodenhorn

NBER Working Paper No. 23430
Issued in May 2017
NBER Program(s):Development of the American Economy

Saving is essential to the health of economies because it provides the wherewithal for investment. In the late nineteenth century, saving was also essential to the health of urban working-class households. This study brings together information from surveys of household spending and saving, reports of savings banks and insurance companies, water and sewer authorities, and health commissioners to illuminate the connections between household savings and health improvements. Contemporary financial institutions positively influenced economic growth by allocating capital to highly productive employments, including public infrastructure. Specifically, investments in waterworks contributed to the long-run decline in typhoid infection, which improved worker health and productivity.

download in pdf format
   (391 K)

email paper

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w23430

Users who downloaded this paper also downloaded* these:
Dohner and Intal Introduction to "The Marcos Legacy: Economic Policy and Foreign Debt in the Philippines"
Restuccia and Rogerson w23422 The Causes and Costs of Misallocation
Duflo w23213 The Economist as Plumber
Hamilton w23429 Why You Should Never Use the Hodrick-Prescott Filter
Bodenhorn w22652 Two Centuries of Finance and Growth in the United States, 1790-1980
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us