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A Study on Health Variables of the BRICS Countries: From Period 2000 to 2019
Sumandeep1, Ravi Kiran2, Rakesh Kumar Sharma3
1Lecturer, Thapar University, Patiala, Punjab, India.
Government health expenditure positively impacts economic growth in BRICS nations. Investing in healthcare infrastructure, hospitals, and vaccination is crucial for protecting healthcare systems and fostering economic development.
Area of Science:
- Health Economics
- Development Economics
- Public Health Policy
Background:
- Previous research explored government health expenditure (GHE) and economic growth in BRICS using various econometric methods.
- The long-term impact of healthcare spending on economic growth in these nations requires further investigation.
Purpose of the Study:
- To analyze the drivers of healthcare systems in BRICS countries.
- To determine the effect of health indicators on gross domestic product (GDP) and per capita income.
- To assess the short-term and long-term influence of healthcare variables on national health spending.
Main Methods:
- Panel Data analysis utilizing Fixed Effect and Random Effect Models.
- Inclusion of healthcare indicators: Current Health Expenditure (CHE), GHE, Crude Birth Rate, Immunization, Infant Mortality Rate, Inflation, Life Expectancy at Birth, out-of-pocket expenses, Population Growth, and Total Fertility Rate.
- Data analyzed for BRICS countries spanning the period 2000-2019.
Main Results:
- Gross domestic product (GDP) and per capita income showed a negative relationship with Current Health Expenditure (CHE).
- Government Health Expenditure (GHE) demonstrated a positive correlation with GDP and per capita income.
- Increased government health spending was associated with higher real GDP and per capita income.
Conclusions:
- Investment in healthcare infrastructure, hospitals, and vaccination is vital for robust healthcare systems in BRICS countries.
- Healthcare spending is a significant factor in economic growth within the BRICS region.
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