THE VALIDITY OF THE HEALTH BASED GROWTH HYPOTHESIS: THE TURKEY EXAMPLE

Year 2023, Volume: 24 Issue: 2, 111 - 126, 29.06.2023

Melike Torun

https://doi.org/10.53443/anadoluibfd.1245989

Abstract

Given the importance of human health as human capital to the national economy, it is emphasized in numerous studies in the health economics literature that differences in healthcare expenditures are a significant determinant of economic growth. The significance of the topic provided as the driving force behind this study, which aimed to use an empirical method to assess the validity of the health-based growth hypothesis for the Turkish economy between 1975 and 2020. The nonlinear bounds test approach was employed to test for cointegration between economic growth and healthcare expenditures, and the non-normally distributed autoregressive distributed lag approach (NARDL) modeling technique was applied to investigate cointegration. The study’s findings show that a 1% rise in per capita healthcare expenditure increases per capita gross domestic product (GDP) by 0.55%, whereas GDP per capita declines by 0.26% in response to a negative shock of 1%. The MSR model was used to assess the robustness of the NARDL model results, and the results appear to be similar. The validity of the health-based growth hypothesis was established in Turkey over the time period taken into account based on the conclusions drawn from the analyses.

Keywords

Sağlığa dayalı büyüme hipotezi, Ekonomik büyüme, Sınır testi, NARDL modeli, Türkiye

SAĞLIĞA DAYALI BÜYÜME HİPOTEZİNİN GEÇERLİLİĞİNİN TEST EDİLMESİ: TÜRKİYE ÖRNEĞİ

Abstract

Sağlık ekonomisi literatüründeki birçok çalışma, insan sağlığının belirleyicilerinden biri olan sağlık harcamalarındaki farklılıkların ekonomik büyüme üzerinde önemli bir faktör olduğuna işaret edilmektedir. Sağlığa dayalı büyüme hipotezine göre, sağlık harcamaları ve ekonomik büyüme arasında pozitif yönlü bir ilişki vardır. Bu doğrultuda çalışmada, ampirik yöntemle 1975-2020 yılları arasında Türkiye ekonomisi için sağlığa dayalı büyüme hipotezinin geçerliliğinin test edilmesi amaçlanmıştır. Ekonomik büyüme ile sağlık harcamaları arasındaki eş bütünleşme ilişkisi doğrusal olmayan sınır testi yaklaşımı ile test edilmiş, eşbütünleşmenin varlığının tespiti ile normal dağılmayan otoregresif dağıtılmış gecikme yaklaşımı (NARDL) modellemesi kullanılmıştır. Çalışmadan elde edilen bulgulara göre, kişi başına sağlık harcamasındaki %1’lik pozitif şok, kişi başı gayri safi yurtiçi hasılada (GSYİH) %0,55’lik bir artışa sebep olurken, % 1’lik negatif şok kişi başı GSYİH’da % 0.26’lık azalışa sebep olmaktadır. NARDL model sonuçlarının sağlamlığı MSR modeli ile test edilmiştir ve sonuçların benzer şekilde örtüştüğü görülmektedir. Analizlerden elde edilen bulgulara dayanarak, incelenen dönemde Türkiye’de sağlığa dayalı büyüme hipotezinin geçerliliği tespit edilmiştir.

Keywords

Sağlığa dayalı büyüme hipotezi, Ekonomik büyüme, Sınır testi, NARDL modeli, Türkiye

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