Authors

• Fathollah Tari ¹
• Mohammad Shirijian ²
• Mohsen Mehrara ³
• Hossein Amiri ⁴

¹ Associate Professor of Economics, Allameh Tabataba'i University.

² M.A. in Economics, Tehran University.

³ Associate Professor of Economics, Tehran University.

⁴ Ph.D. Student in Economics, Allameh Tabataba'i University

Abstract

Identifying the factors that contribute to sustained economic growth of countries is the main concerns of economic researchers. The present paper employs a Bayesian econometrics approach based on Bayesian Model Averaging (BMA) method to investigate the effect of public and private health expenditure on economic growth in developing economies. The empirical findings show that public health expenditure positively and private health expenditure negatively affect on the long-term economic growth of developing countries. Also, hospital beds do have a positive important role in explaining long-term economic growth.

Keywords

• Economic Growth
• Public Health Expenditure
• Private Health Expenditure
• Bayesian Model Averaging (BMA)