aggregate supply of experienced workers, rather than the tenure of workers at a specific company, becomes relevant. If mortality rates rise from 0.25 percent to 3 (or 5) percent, the average level of working experience declines from 18.8 to 14.7 (or 12.3) years. 37 VI. E conomic G rowth and P er -C apita I ncome HIV/AIDS may affect economic growth and income per capita through various channels. Disruptions to the production process caused by sickness and death of employees have an adverse impact on productivity, and the decline in the rate of growth of the
the impact of HIV/AIDS on the health sector, public education, the supply of labor and the returns to training in nine Southern African countries. Drawing on the preceding sections, it assesses the impact of HIV/AIDS on per capita income in a neoclassical growth framework. HIV/AIDS affects per capita income mainly through its impact of human capital, as measured by the supply of experienced workers. Other factors include the impact on capital accumulation, on education, and on total factor productivity. JEL Classification Numbers: H51, H52, H55, I10, I20, 040, 055
concluded that HIV/AIDS affects per capita income mainly through its impact on human capital, as measured by the supply of experienced workers. Others include the impact on capital accumulation, on education, and on total factor productivity. 6. The negative impact of HIV/AIDS postulated in studies is sensitive to the effect of the pandemic on labor supply and the capital stock. To the extent that the NSF intervention program results in lower rates of new infection and a more productive life for the infected people, it is expected that the overall macroeconomic outcome