DETERMINANTS OF HEALTHCARE EXPENDITURE ON HUMAN CAPITAL AND ECONOMIC GROWTH IN BANGLADESH: A LONGITUDINAL DATA ANALYSIS FROM 1995-2010

摘要

The objective of this study was to examine the determinants of healthcare expenditure in Bangladesh between 1995 and 2010 byapplying the World development indicator data. First, I developed an empirical model for longitudinal data analysis to determinant thehealthcare expenditure under the human capital and economic growth. Next, I explored the dynamic relationships among healthcareexpenditure, human capital and economic growth usingOLSmodel. The expenditure in private healthcare was 2.3% and 1.2% GDPfor the public health in 2010. A Wald statistic determined the joint significance of the data andR2= 99.42%for human capital andR2=99.44% for economic growth indicates thismodel was the best fit. The empirical results concerned that healthcare expenditure GDPper capita plays an important role in economic growth and an income elasticity about 0.34 that implies healthcares are not luxury goodin the Bangladesh.