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Does Health Care Expenditure Affect Economic Growth? Evidence From Selected Asian Countries (Ovplyvňujú Výdavky Na Zdravotníctvo Hospodársky Rast? Dôkazy Z Vybraných Ázijských Krajín)

Author

Listed:
  • Seyed Nezamuddin Makiyan

    (Department of Economics, University of Yazd)

  • Mahvash Moradi

    (Department of Economics, University of Yazd)

  • Ezatollah Lotfi

    (Department of Economics, University of Yazd)

Abstract

A strong and positive correlation between health care expenditure and GDP has been the consistent finding of research. Based on this concept about the role of health in the economy, this paper aims to investigate the relationship between economic growth and health care expenditure. We use panel data analysis of 23 selected Asian countries over the period of 1996-2009. We develop a framework by employing a series of respective tests and estimate the model using GLS approach. The results confirm presence of a positive and significant relationship between economic growth and health care expenditure. The Granger causality test also indicates the existence of bidirectional causality between health care expenditure and economic growth in the short-run and unidirectional causality from health care expenditure to GDP in the long-run. (Výsledky výskumov dlhodobo poukazujú na fakt, že existuje silná pozitívna korelácia medzi výdavkami na zdravotníctvo a hrubým domácim produktom. Predkladaný článok skúma vzťah medzi hospodárskym rastom a výdavkami na zdravotníctvo v 23 vybraných ázijských štátoch. Používa panelovú analýzu dát za roky 1996-2009 a tvorí model metódou GLS. Výsledky výskumu potvrdzujú existenciu silnej pozitívnej korelácie medzi hospodárskym rastom a výdavkami na zdravotníctvo. Grangerov test kauzality ukazuje, že z krátkodobého hľadiska je vzťah obojsmerný, kým z dlhodobého hľadiska prebieha kauzalita jednosmerne od výdavkov na zdravotníctvo k hospodárskemu rastu.)

Suggested Citation

  • Seyed Nezamuddin Makiyan & Mahvash Moradi & Ezatollah Lotfi, 2014. "Does Health Care Expenditure Affect Economic Growth? Evidence From Selected Asian Countries (Ovplyvňujú Výdavky Na Zdravotníctvo Hospodársky Rast? Dôkazy Z Vybraných Ázijských Krajín)," Medzinarodne vztahy (Journal of International Relations), Ekonomická univerzita, Fakulta medzinárodných vzťahov, vol. 12(1), pages 73-84.
    • Handle: RePEc:brv:journl:v:12:y:2014:i:1:p:73-84
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    File URL: https://fmv.euba.sk/RePEc/brv/journl/MV2014-1.pdf
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    References listed on IDEAS

    as
    1. George P. Brockway, 1983. "On Speculation: A Footnote to Keynes," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 5(4), pages 515-522, July.
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    More about this item

    Keywords

    health care expenditure; economic growth; GLS; panel-type ECM model;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development

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