NON-LINEAR PANEL DATA ANALYSIS BETWEEN ECONOMIC GROWTH AND HEALTH EXPENDITURES

Authors : Murat Binay, Okan Aydin

Pages : 988-1018

Doi:10.21441/sosyalguvence.1343421

View : 143 | Download : 115

Publication Date : 2023-12-22

Article Type : Research Paper

Abstract :In the 1960s, endogenous growth theories revealed that human capital as much effect as physical capital in economic growth. Then, it was focused on how to increase human capital accumulation, and it was determined that first of all, education and then health were two main components. There are a lot of studies in the literature trying to assess the relationship between health expenditures and economic growth. In the studies on the relationship between economic growth and health expenditures, which is the subject of this study, it has been observed that economic growth is increased by health expenditures generally, but there are some studies that show that it does not affect economic growth even decrease. In this study, the relationship between health expenditures and economic growth has been examined for OECD countries, including Turkey, with two different methods: dynamic panel data analysis and non-linear panel data analysis. In these methods, firstly, the relationship between health expenditures and economic growth is examined, then the other components of economic growth that are generally accepted in the literature, such as capital accumulation, total factor productivity and the democracy index, whose effects on economic growth are discussed, are included in the model to determine the effect of health expenditures on economic growth has been studied.
Keywords : Sağlık Harcamaları, Ekonomik Büyüme, Lineer Olmayan Panel Veri Analizi