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SAĞLIK HARCAMALARININ EKONOMİK BÜYÜME ÜZERİNE ETKİSİ: EKONOMETRİK BİR ANALİZ

Year 2022, Volume: 7 Issue: 2, 38 - 47, 11.07.2022

Emine Türkan Ayvaz Güven

Abstract

Dünyadaki tüm ülkeler, sağlıklı bireylerden oluşan bir toplum oluşturmayı hedeflemektedirler. Çünkü; bir ülke ekonomisinin güçlü olması ve sürdürülebilirliği için, sağlıklı bireylerden oluşan bir toplum gereklidir. Sağlık hizmetlerinin gelişimi için yapılan sağlık harcamaları, beşeri sermaye yoluyla ekonomik büyümeyi etkilemektedir. Sağlık harcamalarında ortaya çıkan bir artış; insanların hayat süresini, hayat beklentisini ve hayat kalitesini artırarak ekonomik büyümeyi de etkilemektedir. Sağlık harcamalarının, ekonomik büyümeyi ne yönde etkilediği her zaman araştırılmıştır. Bu çalışmanın amacı; OECD ülkelerinde sağlık harcaması ve hane halkı tüketim harcamasının, ekonomik büyüme üzerindeki etkilerinin panel veri regresyon modeli kullanılarak analiz edilmesidir. Bunun için; 2011-2020 yılları arası 37 OECD ülkesi incelenmiştir. Hausman Testi sonuçları, panel veri analizinde kullanılan modellerden sabit etkiler modelinin kabul edilmesi gerektiğini göstermektedir. Elde edilen sabit etkiler modelinde; farklı varyans, otokorelasyon ve birimler arası korelasyon olduğu görülmüştür. Sonuçta; sağlık harcamalarının ve hane halkı tüketim harcaması değişkenlerinin, ekonomik büyüme üzerinde negatif bir etkisinin olduğu bulunmuştur. Sağlık harcamalarındaki %1'lik artış, ekonomik büyümeyi %0.08 azaltmaktadır.

Keywords

Sağlık Harcamaları Hane Halkı Tüketim Harcaması Ekonomik Büyüme Panel Veri Analizi OECD Ülkeleri

References

  • Acar, Y. (2020). Health Expenditure, Per Capita Gross Domestic Product and Relationship between Life Expectancy at Birth: The Case of Turkey. BMIJ, 8 (1), 624-639.
  • Baltagi, B. H., Lagravinese, R., Moscone, F., and Tosetti, F. (2017). Health Care Expenditure and Income: A Global Perspective. Health Economics, 26 (7), 863- 874.
  • Baltagi, B.H. (2010). Health care expenditure and income in the OECD reconsidered: Evidence from panel data, Econ. Modell, 27 (4), 804–811.
  • Bloom, D.E., Canning, D. and Sevilla, J. (2001). The Effect of Health on Economic Growth: Theory and Evidence. National Bureau of Economic Research Working Paper, No: 8587, 1-26.
  • Bloom, E. D., and Canning, D. (2000). The Health and Wealth of Nations,.Science AAAS, 287 (5456), 1207- 1209.
  • Brempong, G., K., and Wilson, M. (2004). Health Human Capital and Economic Growth in Sub-Saharan African and OECD Countries. The Quarterly Review of Economics and Finance, 44(2), 296-630.
  • Cima, J. and Almeida, A.S. (2018). Health Expenditure, GDP Growth and the Financial Crisis: A Panel Data Analysis for OECD European Countries. FEP Working Paper, No: 602.
  • Cetin, M. and Ecevit, E. (2010). The Effect of Health Spending on Economic Growth: A Panel Regression Analysis on OECD Countries, Doguş University Journal, 11 (5), 166-182.
  • Grene, W. H. (2003). Econometric Analysis, 5th Edition, New Jersey: Prentice Hall,
  • Grossman, M. (1972). On the Concept of Health Capital and the Demand for Health, Journal of Political Economy. 80, 223-255.
  • Gujarati, D. (2003). Basic Econometrics. ABD: Mcgraw Hill
  • Hamoudi, A.A. and Sachs, J. (1999). Economic Consequences of Health Status: A Review of the Evidence, Cid Working Papers Series, No. 30.
  • Judge, G.G., Griffiths, W.E., Hill, R.C., Lutkepohl, H.and Lee, T.C. (1985). The Theory and Practice of Econometrics. ABD: Wiley.
  • Kar, M. and Taban, S. (2003). Effects of Public Expenditure Types on Economic Growth, Ankara University SBF Journal, 58 (3), 145-169.
  • Kirilmaz, H., Ates, H. and Ünsal, A. (2019). The Role of Health Indicators in Economic Growth: A Panel Regression Analysis on the Turkic Republics, Eurasia Journal of International Studies, (7) 16, 35-56.
  • Kibritcioglu, A. (1998). Determinants of Economic Growth and Human Capital in New Growth Models, Ankara University Faculty of Political Sciences Journal, 53 (1), 207-230.
  • Koying, C. and Young-Hsiang, Y. (2006). Economic Growth, Human Capital İnvestment, and Health Expenditure: A Study of OECD Countries, Hitotsubashi Journal of Economics, 47(1), 1-16.
  • Mayer, D. (2001). The Long-Term Impact of Health on Economic Growth İn Latin America, World Development, 29(6), 1025-1033.
  • Mohammadi, T., Maleki, B. and Gashti, H. P. (2012). The Effect of Government Expenditure Composition on Economic Growth: Evidence on ECO Countries, Economics and Finance Review, 2 (5), 14-21.
  • Ozturk, S. and Kusmez, T. (2019). Determinants of Health Spending: Analysis of BRICS-T Countries. Journal of Çukurova University Faculty of Economics and Administrative Sciences, 23 (1), 31-47.
  • Rodriguez, A. F., and Valdes, M. N. (2018). Health Care Expenditures and GDP in Latin American and OECD Countries: A Comparison Using a Panel Cointegration Approach. International Journal of Health Economics and Management. 19, 115-153.
  • Sab, R. and Smith, S. C. (2001). Human Capital Convergence: International Evidence. IMF Working Paper, 32, 1-33.
  • Sammut, A. (2013). Assessing The Relationship Between Health And Economic Growth: Malta’s Case. University Of Malta, Faculty of Economics, Management and Accountancy.
  • Sarıgul, O. (2019). Education Expenditures, Health Expenditures and National Income Relations: Panel Bootstrap Models for OECD Countries. Marmara University, Institute of Social Sciences, Master Thesis, Istanbul.
  • Simsir, N. C., Condur, F., Bolukbas, M., and Alatas, S. (2015). Health and Economic Growth Relationship in Turkey: ARDL Bound Testing Approach, Finance Political and Economic Reviews, 52 (604), 43-54.
  • Turhan M., and Tasseven O. (2010). Investigation of New Relationships Created by Error Values in Areas Where Management Functions Are Applied Using Panel Data Models, Istanbul University Faculty of Economics Journal of Econometrics and Statistics, 11, 128-153.
  • Wahab, M. (2011). Asymmetric Output Growth Effects of Government Spending: Cross-Sectional and Panel Data Evidence, International Review of Economics and Finance, 20, 574-590.
  • Woodhall, M. (1987). Human Capital Concepts, (Edited By George Psacharopoulos), Economics of Education Research And Studies, Advanges İn Education, Pergamon Pres, The World Bank, Washington, Dc, USA
  • World Bank (1993), World Development Report: İnvesting İn Health. New York: Oxford University Press.
  • Yumusak, G. İ. and Yildirim, D. C. (2009). An Econometric Review of the Relationship between Health Expenditures and Economic Growth. Journal of Knowledge Economy and Management, 4 (1), 57-70.

THE EFFECT OF HEALTH EXPENDITURES ON ECONOMIC GROWTH: AN ECONOMETRIC ANALYSIS

Year 2022, Volume: 7 Issue: 2, 38 - 47, 11.07.2022

Emine Türkan Ayvaz Güven

Abstract

All countries in the world aim to create a society composed of healthy individuals. Because; For a country's economy to be strong and sustainable, a society consisting of healthy individuals is necessary. Health expenditures for the development of health services affect economic growth through human capital. An increase in health expenditures; It also affects economic growth by increasing people's life expectancy, life expectancy and quality of life. How health spending affects economic growth has always been explored. The aim of this study is; It is the analysis of the effects of health expenditure and household consumption expenditure on economic growth in OECD countries using panel data regression model. For this; between 2011 and 2020, 37 OECD countries were examined. Hausman Test results show that fixed effects model should be accepted among models used in panel data analysis. In the obtained fixed effects model; It has been observed that there are different variances, autocorrelations and correlations between units. After all; It has been found that health expenditures and household consumption expenditure variables have a negative effect on economic growth. An increase of 1% in health expenditures reduces economic growth by 0.08%.

Keywords

Health Expenditures Household Consumption Expenditure Economic Growth Panel Data Analysis OECD Countries

References

  • Acar, Y. (2020). Health Expenditure, Per Capita Gross Domestic Product and Relationship between Life Expectancy at Birth: The Case of Turkey. BMIJ, 8 (1), 624-639.
  • Baltagi, B. H., Lagravinese, R., Moscone, F., and Tosetti, F. (2017). Health Care Expenditure and Income: A Global Perspective. Health Economics, 26 (7), 863- 874.
  • Baltagi, B.H. (2010). Health care expenditure and income in the OECD reconsidered: Evidence from panel data, Econ. Modell, 27 (4), 804–811.
  • Bloom, D.E., Canning, D. and Sevilla, J. (2001). The Effect of Health on Economic Growth: Theory and Evidence. National Bureau of Economic Research Working Paper, No: 8587, 1-26.
  • Bloom, E. D., and Canning, D. (2000). The Health and Wealth of Nations,.Science AAAS, 287 (5456), 1207- 1209.
  • Brempong, G., K., and Wilson, M. (2004). Health Human Capital and Economic Growth in Sub-Saharan African and OECD Countries. The Quarterly Review of Economics and Finance, 44(2), 296-630.
  • Cima, J. and Almeida, A.S. (2018). Health Expenditure, GDP Growth and the Financial Crisis: A Panel Data Analysis for OECD European Countries. FEP Working Paper, No: 602.
  • Cetin, M. and Ecevit, E. (2010). The Effect of Health Spending on Economic Growth: A Panel Regression Analysis on OECD Countries, Doguş University Journal, 11 (5), 166-182.
  • Grene, W. H. (2003). Econometric Analysis, 5th Edition, New Jersey: Prentice Hall,
  • Grossman, M. (1972). On the Concept of Health Capital and the Demand for Health, Journal of Political Economy. 80, 223-255.
  • Gujarati, D. (2003). Basic Econometrics. ABD: Mcgraw Hill
  • Hamoudi, A.A. and Sachs, J. (1999). Economic Consequences of Health Status: A Review of the Evidence, Cid Working Papers Series, No. 30.
  • Judge, G.G., Griffiths, W.E., Hill, R.C., Lutkepohl, H.and Lee, T.C. (1985). The Theory and Practice of Econometrics. ABD: Wiley.
  • Kar, M. and Taban, S. (2003). Effects of Public Expenditure Types on Economic Growth, Ankara University SBF Journal, 58 (3), 145-169.
  • Kirilmaz, H., Ates, H. and Ünsal, A. (2019). The Role of Health Indicators in Economic Growth: A Panel Regression Analysis on the Turkic Republics, Eurasia Journal of International Studies, (7) 16, 35-56.
  • Kibritcioglu, A. (1998). Determinants of Economic Growth and Human Capital in New Growth Models, Ankara University Faculty of Political Sciences Journal, 53 (1), 207-230.
  • Koying, C. and Young-Hsiang, Y. (2006). Economic Growth, Human Capital İnvestment, and Health Expenditure: A Study of OECD Countries, Hitotsubashi Journal of Economics, 47(1), 1-16.
  • Mayer, D. (2001). The Long-Term Impact of Health on Economic Growth İn Latin America, World Development, 29(6), 1025-1033.
  • Mohammadi, T., Maleki, B. and Gashti, H. P. (2012). The Effect of Government Expenditure Composition on Economic Growth: Evidence on ECO Countries, Economics and Finance Review, 2 (5), 14-21.
  • Ozturk, S. and Kusmez, T. (2019). Determinants of Health Spending: Analysis of BRICS-T Countries. Journal of Çukurova University Faculty of Economics and Administrative Sciences, 23 (1), 31-47.
  • Rodriguez, A. F., and Valdes, M. N. (2018). Health Care Expenditures and GDP in Latin American and OECD Countries: A Comparison Using a Panel Cointegration Approach. International Journal of Health Economics and Management. 19, 115-153.
  • Sab, R. and Smith, S. C. (2001). Human Capital Convergence: International Evidence. IMF Working Paper, 32, 1-33.
  • Sammut, A. (2013). Assessing The Relationship Between Health And Economic Growth: Malta’s Case. University Of Malta, Faculty of Economics, Management and Accountancy.
  • Sarıgul, O. (2019). Education Expenditures, Health Expenditures and National Income Relations: Panel Bootstrap Models for OECD Countries. Marmara University, Institute of Social Sciences, Master Thesis, Istanbul.
  • Simsir, N. C., Condur, F., Bolukbas, M., and Alatas, S. (2015). Health and Economic Growth Relationship in Turkey: ARDL Bound Testing Approach, Finance Political and Economic Reviews, 52 (604), 43-54.
  • Turhan M., and Tasseven O. (2010). Investigation of New Relationships Created by Error Values in Areas Where Management Functions Are Applied Using Panel Data Models, Istanbul University Faculty of Economics Journal of Econometrics and Statistics, 11, 128-153.
  • Wahab, M. (2011). Asymmetric Output Growth Effects of Government Spending: Cross-Sectional and Panel Data Evidence, International Review of Economics and Finance, 20, 574-590.
  • Woodhall, M. (1987). Human Capital Concepts, (Edited By George Psacharopoulos), Economics of Education Research And Studies, Advanges İn Education, Pergamon Pres, The World Bank, Washington, Dc, USA
  • World Bank (1993), World Development Report: İnvesting İn Health. New York: Oxford University Press.
  • Yumusak, G. İ. and Yildirim, D. C. (2009). An Econometric Review of the Relationship between Health Expenditures and Economic Growth. Journal of Knowledge Economy and Management, 4 (1), 57-70.
There are 30 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Mevcut Sayı
Authors

Emine Türkan Ayvaz Güven 0000-0003-4656-2888

Early Pub Date June 30, 2022
Publication Date July 11, 2022
Submission Date May 26, 2022
Published in Issue Year 2022 Volume: 7 Issue: 2

Cite

APA Ayvaz Güven, E. T. (2022). THE EFFECT OF HEALTH EXPENDITURES ON ECONOMIC GROWTH: AN ECONOMETRIC ANALYSIS. Al Farabi Uluslararası Sosyal Bilimler Dergisi, 7(2), 38-47.

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