The Belt and Road Initiative, Public Health Expenditure and Economic Growth: Evidence from Quasi-Natural Experiments

Area of Science:

• Economics
• Public Health
• International Development

Background:

• The United Nations 2030 Sustainable Development Goals (SDGs) encompass societal, economic, and environmental dimensions.
• The Belt and Road Initiative (BRI) is a key strategy for implementing SDGs and fostering economic development.
• Limited research exists on the BRI's impact on social and economic benefits, particularly public health.

Purpose of the Study:

• To investigate the relationship between the BRI and public health expenditure and economic growth.
• To analyze the dual impact of the BRI on social development and economic growth.
• To explore how public health expenditure moderates the BRI's effect on economic growth.

Main Methods:

• Panel data analysis of 171 countries from 2010 to 2018.
• Econometric modeling to assess the BRI's influence on public health and economic indicators.
• Examination of the moderating role of public health expenditure levels.

Main Results:

• The BRI significantly increases public health expenditure in participating countries.
• The BRI effectively stimulates economic growth in countries along its routes.
• The BRI's positive effect on economic growth is contingent on moderate public health expenditure levels.

Conclusions:

• The BRI contributes to improved public health and economic growth in participating nations.
• Optimizing public health expenditure is crucial for maximizing the BRI's economic benefits.
• Findings offer insights for aligning the BRI with Sustainable Development Goals.