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The Impact of Economic Indicators on Life Expectancy: A Panel Data Analysis

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  • Bayram AYDIN

    (Yozgat Bozok Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Yozgat, Türkiye)

Abstract

In this study, economic indicators which have an effect on life expectancy were investigated for OECD countries in the early 21st century. When the development levels of countries and their life expectancy are examined, it is seen that underdeveloped countries are significantly behind the life expectancy at birth compared to developed countries. For this reason, it is of great importance to find out why the length of life is higher in economically developed countries and to investigate the economic indicators affecting this situation. When the studies in the literature are evaluated, it is seen that despite the importance of the subject, there are not enough studies examining the relationship between life expectancy and economic variables. In this study, Panel Regression Analysis and Panel Granger Causality Analysis were used for the period 20002016. According to the findings of the study, bidirectional causality was determined between life expectancy and unemployment rate, and life expectancy and gross domestic product. Also, unidirectional causality relationship was determined from health expenditures to life expectancy. In addition, regression analysis revealed that health expenditures are the most important factor affecting the life expectancy for OECD countries. This result shows that in terms of development, providing a better life to individuals and society is possible when the health expenditure of countries is increased to a higher level.

Suggested Citation

  • Bayram AYDIN, 2020. "The Impact of Economic Indicators on Life Expectancy: A Panel Data Analysis," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 70(1), pages 163-181, June.
    • Handle: RePEc:ist:journl:v:70:y:2020:i:1:p:163-181
    DOI: 10.26650/ISTJECON2019-0028
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    References listed on IDEAS

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    1. Abdalali Monsef & Abolfazl Shahmohammadi Mehrjardi, 2015. "Determinants of Life Expectancy: A Panel Data Approach," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(11), pages 1251-1257, November.
    2. Abdalali Monsef & Abolfazl Shahmohammadi Mehrjardi, 2015. "Determinants of Life Expectancy: A Panel Data Approach," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(11), pages 1251-1257.
    3. Hickson, Kerry Jane, 2009. "The contribution of increased life expectancy to economic development in twentieth century Japan," Journal of Asian Economics, Elsevier, vol. 20(4), pages 489-504, September.
    4. Hansen, Casper Worm, 2013. "Life expectancy and human capital: Evidence from the international epidemiological transition," Journal of Health Economics, Elsevier, vol. 32(6), pages 1142-1152.
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    More about this item

    Keywords

    The life expectancy; Economic indicators; Panel data analysis;
    All these keywords.

    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development

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