![]() ![]() Similarly, ill health is considered as a huge financial burden, and it is the major cause of 50% of the growth differential between developed and developing countries. For example, a WHO report revealed that for every increase in life expectancy at birth by 10%, the economic growth rate increased by 0.35% per year. Evidence shows that investing in health significantly benefits the economy. It is vital for all countries to appropriately invest in their health sector. Furthermore, good health ensures economic security for the individuals themselves and their families, and provides a sense of empowerment that adds value to human life. Therefore, health is an integral part of sustainable development, and attempts for its improvement should always be the main development goal of a nation. identified four mechanisms through which healthier individuals contribute to the economy: (i) at the workplace, healthier individuals are more productive and thus generally earn a higher income, (ii) they are able to retire later and take less sick leave due to overall good health and so they are able to work longer, (iii) they are more likely to invest in their own education and training which then enhances their productivity and (iv) they are likely to save and invest more with the expectation of a longer life. According to the neoclassical growth model, growth in human capital, in terms of education and health, positively affects per capita income in the long run. Enriched human capital is considered an important factor for achieving desired economic growth and development in any country.
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