Abstract
Until the Augmented Neo-Classical Growth Model developed by Mankiw, Romer and Weil, growth theories have ignored the human capital factor. This study aims to investigate the impact of health on economic growth in Turkey between 1960-2014 through a production function that includes human capital. Health and education are included in the production function as the two main components of human capital. The Multivariate Auto-Regressive Distributed Lag (ARDL) Bounds Test was conducted for empirical analysis. As a result, a significant long-term cointegration relationship was found between the variables. The results also indicate that a 1% increase in life expectancy at birth leads to a 0.67% increase in GDP, a 1% increase in the number of students per teacher in vocational and technical secondary education leads to a 0.21% decrease in GDP, and a 1% increase in the number of students per teacher in tertiary education leads to a 0.21% increase in GDP.
Highlights
Most economic theorists have embraced the role of non-economic dimensions of economic growth
This study aims to make a unique contribution to the investigation of the impact of health on economic growth in Turkey using a production function approach which includes health and education variables simultaneously and using a multivariate Auto-Regressive Distributed Lag (ARDL) Bounds Test approach
A significant long-term cointegration relationship was found in the analysis, where the dependent variable was GDP and the independent variables were total factor productivity (TFP), capital stock, labor force, the number of students per teacher in vocational and technical secondary education, the number of students per teacher in tertiary education, and the expected life expectancy at birth
Summary
Most economic theorists have embraced the role of non-economic dimensions of economic growth (such as education and health). A large number of recently published studies have focused on analyzing the interesting link between human capital and economic growth to verify the hypothesis of a causal relationship. Health is a crucial aspect of human capital, and a critical ingredient of economic growth. This study aims to make a unique contribution to the investigation of the impact of health on economic growth in Turkey using a production function approach which includes health and education variables simultaneously and using a multivariate ARDL Bounds Test approach. The link between human capital and economic growth is explained, followed by a brief literature review.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
