Sanit?, sviluppo e crescita economica

Gaetano Stornaiuolo

STUDI ECONOMICI, 2003, vol. 2003/79, issue 79

Abstract: Sanit?, sviluppo e crescita economica (di Gaetano Stornaiuolo) - ABSTRACT: The theory accepted by many scholars asserts that there is a feedback process between health and income. The influence of the Gross Domestic Product (GDP) growth on health care expenditure has been highlighted in many authoritative papers. This paper will attempt to estab-lish an alternative point of view to demonstrate that GDP is a function of health care expendi-ture. This paper demonstrates that the reverse causation has a theoretical basis in the bibliogra-phy relating to human capital and in particular the concept that health care expenditure can be regarded as an investment in human capital. The second objective of this paper is to analyse the effects of the implementation of a proxy for health capital in Mankiw-Romer-Weil?s empirical growth model. In which estimates were developed for EU countries from 1982-99. Results suggest that health capital has a significant impact upon economic growth, even in those countries that have high levels of GDP.

Date: 2003
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