Investments in HealthCare, Life Expectancy, and Economic Growth

Abstract

ABSTRACT Mortality and life expectancy at birth are considered some of the most important aspects of human economic development. Over the last three centuries, both of these indicators have practically doubled in all geographic and demographic parts of the world. This article examines how life expectancy, health care investments, and the medical innovations closely related to these investments affect mortality reduction and, ultimately, economic growth. It also studies economic growth’s reverse effect on life expectancy and public health and discusses factors that over several centuries shaped current life expectancies in various countries. Next, it indicates the following as primary factors in health care’s contribution to gross domestic product: investment activities and the introduction of innovative technologies into the health care system. Finally, it analyzes the effect of these factors on economic growth.