The impact of health expenditures on economic growth: A panel data analysis on BRICS-T countries

In today's economic conditions, health is not only the physical and mental well-being of individuals but is also regarded as one of the fundamental dynamics of sustainable economic growth and development. Healthy societies are critically important in terms of a productive labor force, lower healthcare costs, and long-term economic stability. In the process of developing and protecting human capital, health expenditures are of vital importance for economic growth and directly affect the welfare level of societies. Health expenditures play a critical role in improving economic growth and social welfare. A workforce consisting of healthy individuals ensures higher productivity and efficiency, while also directly affecting the quality of human capital, which is one of the main dynamics of economic development. Investments in the health sector reduce the burden caused by illness, enable more efficient use of the labor force, increase access to health services, and support economic growth in the long run. The main objective of the study is to reveal the effectiveness levels created by health services and health expenditures implemented over the long term on economic growth. In this context, it is aimed to better understand the effects of health expenditures on economic growth and to develop new proposals, if necessary, covering current health policies.