THE IMPACT OF HEALTH SYSTEM EFFICIENCY ON ECONOMIC AND SOCIAL PROSPERITY

Gheorghe (cosoveanu) Georgiana Beatrice
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Gheorghe (cosoveanu) Georgiana Beatrice: DOCTORAL SCHOOL OF ECONOMICS AND INTERNATIONAL BUSINESS, THE BUCHAREST UNIVERSITY OF ECONOMIC STUDIES, ROMANIA

Annals - Economy Series, 2025, vol. 2, 287-294

Abstract: This study investigates the relationship between health system efficiency and economic and social prosperity, focusing on two critical components of the World Happiness Index: healthy life expectancy (a proxy for health system performance) and perceived social support. Using a comparative dataset of global indicators from 2019 and 2024, we analyze how the correlation between these happiness components and economic development has evolved. The study employs logarithmic GDP per capita as a dependent variable, while explanatory variables include healthy life expectancy and the perceived availability of social support. The findings indicate that while both healthy life expectancy and social support continue are positively associated with economic development, the strength of these relationships has slightly weakened in recent years. This trend may be attributed to the lingering impact of the COVID19 pandemic, economic instability, and evolving societal expectations. The positive correlation between healthcare spending and the Happiness Index remains stable over the decade analyzed. Results suggest that although health investments remain crucial, structural and societal shifts may be altering the traditional pathways through which health and support systems contribute to economic outcomes. These findings also highlight the need for integrated policies that balance healthcare investment with social cohesion to sustain long-term development. Moreover, the results underscore the importance of investing in health systems, innovation and social support as strategic pillars for sustainable development and well-being.

Keywords: health system; happiness index; innovation; prosperity; economic development (search for similar items in EconPapers)
Date: 2025
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