Relationship Between Health Expenditures with Economic Growth and Human Development Index: An Econometric Analysis for OECD Countries
Sağlık Harcamaları ile Ekonomik Büyüme ve İnsani Gelişme Endeksi İlişkisi: OECD Ülkeleri İçin Ekonometrik Bir Analiz

Author : Ertuğrul Buğra ORHAN - Abdullah GÖV - Ahmet KÖSTEKÇİ
Number of pages : 781-790

Summary

Health expenditures, which contribute significantly to the development, protection and increase of human capital, are also the main determinants of economic growth and human development level. This close relationship between health expenditures with economic growth and human development level stems from the fact that health, which is an important element of human development level, positively affects economic growth by increasing labor productivity. In this context, the relationship between health expenditures and growth, which is defined as the wealth of countries, and human development, which is expressed as the richness of human life, is examined. The relationship between total health expenditure with growth and human development variables in 27 OECD countries was analyzed with the help of panel Granger causality test which developed by Dumitrescu and Hurlin (2012) using annual data of 1990-2015 period. According to the causality test results; There was a bilateral causality relationship between health expenditures with economic growth and human development index, and one-way causality relationship between human development index and economic growth from human development level to economic growth.

Keywords

Health Expenditure, Economic Growth, Human Development, Panel Causality Test.

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