The Impact of Health Capital on Economic Growth in the Balkan Countries

Uršula Kaštelan and Milena Konatar

A chapter in Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Hybrid Conference, Opatija, Croatia, 17-18 June 2022, 2022, pp 99-107 from IRENET - Society for Advancing Innovation and Research in Economy, Zagreb

Abstract: This study estimates the impact of health capital on economic growth in 10 Balkan countries over the 2000-2019 period. We used panel autoregressive distributed lag (ARDL) of a pooled mean group (PMG) to examine this relationship. Our results revealed that economic growth responds to short-term and long-term health capital changes. Estimation results indicate a positive relationship between health capital and the economic growth of Balkan countries. According to the results, increased health expenditure stimulates higher economic growth and development. The findings imply the need to formulate policies that assign higher priority to the healthcare sector, which would help sustain future economic growth in Balkan countries.

Keywords: health expenditure; economic growth; Balkan countries; panel ARDL model (search for similar items in EconPapers)
JEL-codes: C33 I10 O52 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:entr22:268318

DOI: 10.54820/entrenova-2022-0010

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