HEALTH EXPENDITURE AND ECONOMIC GROWTH: IS THE HEALTHLED GROWTH HYPOTHESİS SUPPORTED FOR SELECTED OECD COUNTRIES?

• Main Authors: Sevilay Konya, Ayşe Özge Artekin
• Format: Article in Journal/Newspaper
• Language: English; Croatian
• Published: University of Zagreb, Croatia / Faculty of Economics and Business / Department of Trade and International Business 2020
• Subjects: Health-Led Growth; Cointegration Test; OECD Countries; Business; HF5001-6182; Canada; Norway; Iceland
• Online Access: https://doaj.org/article/e91378128d7d46458c870716d19d0cc4

The aim of this study was to investigate the health-led growth hypothesis in selected 19 OECD countries. Therefore, in this study, different cointegration tests were applied to investigate the relationship between health expenditures and economic growth for the period 1980-2017. The coefficients of the panel regression equation were estimated by the fixed effect method. According to the results, long-term relationship between health expenditures and economic growth was found. Health-led growth hypothesis for selected OECD countries (Australia, Austria, Belgium, Canada, Denmark, Finland, Iceland, Ireland, Japan, Korea, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States) are supported. That is, a long-term relationship between health expenditure and economic growth has been found.