THE RELATIONSHIP BETWEEN HEALTH DEVELOPMENT INDEX AND FINANCIAL DEVELOPMENT INDEX: EVIDENCE FROM HIGH INCOME COUNTRIES

Economic growth is a complex process affected by many factors at different levels which is commonly proxied by health. In this study, the causal between health and financial development is investegated using heteregenuis panel causality test over the period 1991-2014. To this end, Principal component analysis is initially applied to construct indexes for each variable. Results show that health development indexgranger causes financial development index. Ekonomik büyüme, sağlık değişkeni tarafından sıkça rastlanan farklı seviyelerde birçok faktörden etkilenen karmaşık bir süreçtir. Bu çalışmada, sağlık ve finansal değişkenler arasındaki nedensellik ilişkisi 1991-2014 yılları boyunca panel nedensellik testi kullanılarak araştırılmıştır. Bu amaçla, temel bileşenler analizi değişkenlerden dizinler elde etmek için başlangıçta uygulanmıştır. Sonuçlar, sağlık gelişme endeksinin finansal gelişme endeksinin granger nedeni olduğunu göstermektedir.

Anahtar Kelimeler:

Sağlık, Beşeri Sermaye, Finansal Gelişme

THE RELATIONSHIP BETWEEN HEALTH DEVELOPMENT INDEX AND FINANCIAL DEVELOPMENT INDEX: EVIDENCE FROM HIGH INCOME COUNTRIES

Keywords:

Health, Human Capital, Financial Development,

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