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Jurnal Ekonomi Malaysia

53 (2) 2019 83 – 98

Impact of Health Capital on Total Factor Productivity in Singapore
Impak Modal Kesihatan ke atas Jumlah Produktiviti Faktor di Singapura Impak Modal Kesihatan ke atas Jumlah Produktiviti Faktor di Singapura

School of Graduate Studies
University Putra Malaysia
43400 UPM Serdang Selangor
MALAYSIA

idowuakingba@gmail.com

Faculty of Economics and Management
Universiti Putra Malaysia
43400 UPM Serdang Selangor
MALAYSIA

shivee@upm.edu.my

Faculty of Economics and Management
Universiti Putra Malaysia
43400 UPM Serdang Selangor
MALAYSIA

hannyzurina@upm.edu.my

Abstract

The significance of health capital as a major determinant of economic growth and productivity was highlighted through the work by Jeremy Bentham (1780). In subsequent era, economists likewise acknowledged that individual and population health could be one of the important determinant of productivity and economic growth. This paper examines the impact of health capital on multi-factor productivity (hence TFP) in Singapore covering the period of 1980-2013. The finding from the Autoregressive Distributed Lag (ARDL) bound test shows that there is stable and long run co -integration between TFP, health capital, and education. The long run estimate shows that health capital and education makes a positive and substantial contribution to TFP. This indicates that the TFP of Singapore could be substantially improved if spending on health capital and education are increased accordingly.

Keywords

Autoregressive Distributed Lag; Health capital; Health expenditure; Singapore; total factor productivity
http://dx.doi.org/10.17576/JEM-2019-5302-7
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Isreal, , Kaliappan, S., & Hamzah, (2019). Impact of Health Capital on Total Factor Productivity in Singapore. Jurnal Ekonomi Malaysia, 53(2), 83–98. http://dx.doi.org/10.17576/JEM-2019-5302-7

@article{opeoluwa2019impact,
  title={Impact of Health Capital on Total Factor Productivity in Singapore},
  author={Isreal, Akingba Idowu Opeoluwa and Kaliappan, Shivee and Hamzah, Hanny Zurina},
  journal={Jurnal Ekonomi Malaysia},
  volume={53},
  number={2},
  pages={83—98},
 

year={2019},
}

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