Analysis of the relationship between growth and health using the PVAR method: According to human development index classification

Relationships between Human Development Index (HDI), Per Capita Health Expenditures in Per Capita Income (HPR), Labor Force Participation Rate (LFP) and Vaccination Rate (IMN) and Growth Rates (GRW), which are considered as health determinants, 2000-2019 Panel VAR method was used in this study covering years. First, the variance decomposition results of the countries divided into four groups according to HDI were examined. According to the variance decomposition results of GRW, IMN was found to be the most effective variable in Low HDI (L_HDI) and High HDI (H_HDI) group countries, while it was HPR in Medium HDI (M_HDI) group countries, and HDI variable in Very High HDI (VH_HDI) group countries. Likewise, when the variance decomposition results of HPR were examined, it was revealed that the most effective variable in all four groups was GRW. Looking at the results of the Impact-Response analysis, a positive response was detected until the response of GRW to HPR was dampened for the M_HDI group countries, while a negative response was detected for the M_HDI group countries. In the analysis of the response of HPR to IMN, a negative response was detected in the other three groups except the VH_HDI group countries, while a positive response was detected in the VH_HDI group countries. Finally, in the results of the Error Correction Model (VECM) established according to the cointegration test, it was calculated that it took approximately 1.5 to 2 years for the shocks occurring in other variables in all four groups to bring the GRW into balance, and eventually all groups came into balance.