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The proximate effect of healthcare outlays in the Nigerian accelerated growth equation

Mcrollins Efe Olotu, Benjamin A. Umueme and John Elisha Ikhu

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Indian Journal of Economics and Development
Year : 2014, Volume : 10, Issue : 4
First page : ( 305) Last page : ( 312)
Print ISSN : 2277-5412. Online ISSN : 2322-0430.
Article DOI : 10.5958/2322-0430.2014.00551.4

The proximate effect of healthcare outlays in the Nigerian accelerated growth equation

Efe Olotu McRollins*, Umueme Benjamin A., Ikhu John Elisha
Department of Economics, Novena University, Ogume, Delta State, Nigeria

*Email: efeolotu@gmail.com

JEL Classification: C52, C88, I15, I18

Abstract
Over the years, the philosophical configuration of contemporary economies has been on acceleration of growth. An area which has suffered neglect is the place of health in economic growth equation. Since, the health sector provides human capital in the form of healthy and quality labour force, improving the health status of the people will, therefore, not only increase their well being, longevity and contentment but will also contribute directly to economic growth through the multiplier process. This study examined the relationship between health outlays and health outcomes on economic growth in Nigeria. A sensitivity analysis proceeded from the Neoclassical Solow Growth Model. After all necessary conditions of non-stationarity and co-integration were fulfilled the main result is a robust, positive and significant relationship between economic growth and government health outlays inter-alia. This is against the backdrop of a highly negligible nexus between economic growth and life expectancy. Arising thereof, there is dire need for government to zero official corruption in that sector and channel the health sector’s budget appropriately. There should be increased access to quality treatment at reduced costs. The health workers should also be increased and retrained with a reliable system for the supply of quality drugs and medical materials put in place.

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