Internationale Zeitschrift für Wirtschafts- und Managementwissenschaften

Modelling the Dependency between Economic Growth and Health among Asia Countries Using Mixed-Effects Models

Abstract

Madona Yunita Wijaya*

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.