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Causality between Gross Domestic Product and Health Care Expenditure in the Augmented Solow’s Growth Model
Jönköping University, Jönköping International Business School, JIBS, Economics. Department of Economics, Sogang University, Seoul, Korea.ORCID iD: 0000-0002-7902-4683
2018 (English)In: UKH Journal of Social Sciences, ISSN 2520-7806, Vol. 2, no 2, p. 19-30Article in journal (Refereed) Published
Abstract [en]

This paper examines conditional convergence of OECD countries in gross domestic product (GDP) and health care expenditure (HCE) per capita. It extends the augmented Solow model by incorporating health capital to explain variations in output and expenditure per capita across countries. The issue of causality between GDP and HCE is investigated. The results show that HCE has positive effect on the economic growth and the speed of convergence. In the HCE model a regression of the speed of convergence on variables determining the rate of convergence show close link to the variables characterising the health care system of sample countries.

Place, publisher, year, edition, pages
University of Kurdistan Hewlêr , 2018. Vol. 2, no 2, p. 19-30
Keywords [en]
Solow growth model, health care expenditure, GDP, convergence, OECD
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-42422DOI: 10.25079/ukhjss.v2n2y2018.pp19-30OAI: oai:DiVA.org:hj-42422DiVA, id: diva2:1274936
Available from: 2019-01-03 Created: 2019-01-03 Last updated: 2019-01-03Bibliographically approved

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Heshmati, Almas

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