Abstract:

The relationship between health expenditure and economic growth, which is one of the important elements of human capital, comes at the forefront of the issues of importance for policy makers. Many studies on economic growth include education as a human capital in the analysis. As a five-capital, health expenditure is not included and studies based on education cannot give healthy results. In order to eliminate this deficiency, the panel data method tested the impact of health expenditure on economic growth. In this regard, the data covering the years 2000-2016 for the 15 selected OECD countries including Turkey were included in the analysis. The study has also added five additional variables related to growth to the analysis in order to provide more reliable results. Econometric findings have found a strong and statistically meaningful relationship between economic growth and health expenditure.

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