Health Capital and its Relationship to Economic Growth

Daniel Zarzycki; Maciej Malaczewski

doi:10.18778/2391-6478.S.2021.10

Authors

Daniel Zarzycki University of Lodz, Department of Econometrics
Maciej Malaczewski University of Lodz, Department of Econometrics https://orcid.org/0000-0001-7798-2581

DOI:

https://doi.org/10.18778/2391-6478.S.2021.10

Keywords:

economic growth, health indicators, health capital

Abstract

The purpose of the article/hypothesis: The purpose of this paper is to attempt to justify the thesis that the health potential of human and society has an impact on economic well-being, contributing to the economic growth of countries, and thus their enrichment.

Methodology: In order to examine the significance and strength of the impact of health capital on productivity on a macroeconomic scale, an econometric model of economic growth was used and six estimations were made in which the impact of subsequent components of this capital was examined.

Results of the research: It turned out that 4 out of 6 introduced variables of health capital significantly influenced economic growth, and their direction is consistent with the economic theory. This implies necessity for further studies.

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