Authors : Shima Bavari, Alireza Jorjorzadeh and Mehdi Basirat
Abstract: One of the main concerns of economists and policymakers in every society is the achievement of economic growth. Among the most effective factors on economic growth, it can be referred to human capital, physical capital and labor. The role of health and health expenditures and other health indicators are considered among the most effective factors on the performance of labor. Since, it is possible to consider health capital and expenditures in economic growth functions and observe positive direct and indirect effects on labor productivity level, the healthy labor in production technology developments is introduced as the basis of progress and economic growth and the physical capitals will be productive when the country has human capital. This study aimed to investigate the effect of health capital and accumulation of physical capital as well as life expectancy and mortality of children on economic growth of developing countries using panel data during 2000-2013. The data in this this study were extracted from World Bank statistic reports.
Shima Bavari, Alireza Jorjorzadeh and Mehdi Basirat, 2016. The Effect of Health Capital and Accumulation of Physical Capital on Economic Growth. International Business Management, 10: 4148-4152.