Document Type : Research Paper

Authors

• Ahmad Mojtahed ¹
• Saeed Javadipoor ²

¹ Associate Professor in Economics, Allameh Tabatabaie University

² Senior Economist at Monetary and Banking Research Academy

Abstract

In this article, we introduce a new concept of Health Capital, and use the augmented Solow model with data from 33 developing countries to analyze the effect of health expenditures on Economic growth. The results show that in addition to physical and human capital, health capital have positive and significant effect on Economic growth, via health expenditures. Also, the Hausman test for simultaneity shows that the health expenditures variable can be affected by Economic growth. 

Keywords

• Health Expenditures
• Health Capital
• Economic Growth