経済学および管理科学の国際ジャーナル

Panel data require an elaborate modeling of the random variability due to their complex structure. For continuous panel data, linear mixed model, which is flexible enough in modeling, has been developed. In this study, the impact of health factors including life expectancy, mortality, and fertility on economic growth among Asian countries is examined using panel data from period 1990-2018. The results show that economic growth depends on health factors and the impact on economic growth is different between developed and developing countries. Economic growth of developed countries would be negatively affected by health factors while the developing countries are positively affected with higher fertility and mortality rate.