The relationship between health expenditure and economic growth: An analysis on D8 countries

Human beings are creatures who live with their goals and plans for the future from birth to death. In this context, people are aware that they have to work to achieve their goals and sustain their lives. Every individual who needs to work must be healthy and fit. From this perspective, each person demands that their country provide this service to them. While countries implement policies to have a strong economy, individuals make plans to sustain their lives. At this point, healthcare expenditures come to the forefront to make individuals more productive. Because while a working individual contributes to their country, a developing country will be able to provide more diverse services to its citizens. Health is an important indicator of a country's development. The revival of the economy, public peace and welfare, reduction of unemployment rates, and similar factors are a few of the significant variables affected by healthcare expenditures. At this point, the aim of the study is to examine the effects of healthcare expenditures on economic growth. The panel data analysis method has been utilized in the study. Within the scope of the analysis, the D8 countries (Bangladesh, Indonesia, Iran, Malaysia, Egypt, Nigeria, Pakistan, and Turkiye) for the period 2000-2020 have been considered. As a result of the study, it has been determined that healthcare expenditures positively affect economic growth.