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

• Published in: Poslovna izvrsnost - Business excellence
• Main Authors: Artekin, Ayşe Özge, Konya, Sevilay
• Format: Article in Journal/Newspaper
• Language: English
• Published: University of Zagreb, Faculty of Economics and Business Zagreb 2020
• Subjects: Health-Led Growth; Cointegration Test; OECD Countries; rast pod vodstvom zdravlja; kointegracijski test; zemlje OECD-a; Canada; Norway; Rasta; Turska; Iceland
• Online Access: https://hrcak.srce.hr/239248; https://hrcak.srce.hr/file/347256

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. Cilj ove studije je istražiti hipotezu rasta vođenog zdravljem u izabranih devetnaest zemalja OECD-a. Zbog toga su u ovoj studiji primijenjeni različiti testovi kointegracije kako bi se istražila povezanost zdravstvenih rashoda i gospodarskog rasta za razdoblje 1980.-2017. Koeficijenti panel regresije procijenjeni su metodom fiksnog učinka. Prema rezultatima pronađena je dugoročna veza između zdravstvenih rashoda i gospodarskog rasta. Hipoteza rasta predvođena zdravljem provedena u izabranim zemljama OECD-a (Australija, Austrija, Belgija, Kanada, Danska, Finska, Island, Irska, Japan, Koreja, Nizozemska, Norveška, Portugal, Španjolska, Švedska, Švicarska, Turska, Velika Britanija, Sjedinjene Države) je potvrđena. Drugim riječima, pronađena je dugoročna veza između izdataka za zdravstvo i gospodarskog rasta.