Iranian Journal of Economic Research

An Analysis of the Effect of Health Expenditures on Economic Growth in Selected Developing Countries

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

  • Receive Date 15 May 2016
  • First Publish Date 15 May 2016

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