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International Journal of Applied Research
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ISSN Print: 2394-7500, ISSN Online: 2394-5869, CODEN: IJARPF

IMPACT FACTOR (RJIF): 8.4

International Journal of Applied Research

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

Health expenditure, human development and economic growth for BRICS countries: Testing for co-integration and causality

Author(s)
Dr. Bhawna Rajput and Dr. Anupama Rajput
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.
Pages: 527-535  |  238 Views  12 Downloads
How to cite this article:
Dr. Bhawna Rajput, Dr. Anupama Rajput. Health expenditure, human development and economic growth for BRICS countries: Testing for co-integration and causality. Int J Appl Res 2018;4(3):527-535.
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