Vol. 4, Issue 3, Part H (2018)

Abstract
The linkage between health indicators, population growth and economic growth and human development is attempted to investigate in this study in BRICS countries for the period 2000-2017. The panel co-integration, panel Fully-Modified Ordinary Least Squares (FMOLS) model and Granger’s Causality tests are used to identify the long-run relationship and direction of causality amongst the variables. The empirical results depict long-run relationship amongst the variables. Panel FMOLS provides evidence of positive and significant impact on the economic growth and Human well-being of the countries. Panel Granger’s Causality test depicts bi-directional causality between economic growth and health expenditure in the short-run. Thus, economic growth enables advancement of health care facilities and the better health indicators can allow higher economic growth. The study provides empirical evidence of short-run uni-directional causality from human development to health expenditure. Therefore, better human development conditions leads to higher health care expenditure.