The health capital of senior citizens

TERRA ECONOMICUS, , Vol. 21 (no. 3),

Current studies rarely address issues of assessing health capital and its accumulation in the context of demographic ageing and related “demographic dividends” from promoting health for senior citizens. This article aims to outline the conceptual framework for research related to the interpretation, measurement and evaluation of health capital. Empirical material for the study was extracted from Web of Science Database. We uploaded 320 papers in 2022 using key phrase “health capital”, and scanned their abstracts applying inductive content analysis. We classified approaches to the definition and interpretation of health capital. Our results suggest that the concept of health capital is not limited to human biological assets, but rather involves the indicators of society’s influence, as well as that of personal motivation and nature. These factors enable accumulating health resource throughout life-course. The findings also show that the concept of health capital relies mainly on the parameters of health system and environmental factors. Recent COVID-19 pandemic resulted in a surge of research into the labor capital health issues, but mainly from the perspective of occupational risk insurance and safety. There is a growing body of literature on cultural health capital, social institutions and infrastructure. Such studies face difficulties related to quantitative estimations. We have identified six approaches to the health capital definition: (1) the consumption of “healthy” and “unhealthy” products; (2) financing benefits from health capital from state budget; (3) the accumulation of “endogenous” human capital; (4) investment in biological assets; (5) culture-specific and lifestyle-specific consumption; (6) expenditures for environmental protection.
Citation: Rojdestvenskaya E.M., Malanina V.A., Klemasheva E.I. (2023). The health capital of senior citizens. Terra Economicus21(3), 122–132 (in Russian). DOI: 10.18522/2073-6606-2023-21-3-122-132
Acknowledgment: The study was supported by the Russian Science Foundation, project № 19-18-00300, https://rscf.ru/project/19-18-00300/

Keywords: health capital; senior citizens; institutions; resource capacity; ageing economy; content analysis

JEL codes: I14, I15, J15

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606