Economic impact of Physician

Rajagukguk, Wilson (2020) Economic impact of Physician. Balkan Journal of Interdisciplinary Research, 6 (1). pp. 22-29. ISSN 2410 759X

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Abstract

This study aims to investigate the impacts of the number of physician on economic growth. The macroeconomic impacts of the number of physician are limitedly studied. IQVIA (2018) defi ned that the total macroeconomic impacts are direct and indirect. Direct impacts are on four main economic barometers: consumption, investment, government expenditure, and export and import. Meanwhile, indirect impacts on the same barometers are generated through physician- supported industries. National impacts are the total of the four barometers at national level. The data used in this study came from the World Bank data bank. The data covered 185 countries in the world. The period of analysis varied from 2006 to 2015. A multiple regression model was employed in the analysis. The independent variables are the number of physicians per 1,000 people and percentage of population with electricity. Meanwhile, the dependent variable is the gross domestic product (GDP) per capita at constant price in 2000. The results of the study show that an additional of 1,000 physicians in a country will increase the GDP per capita as much as US$ 7,302.951 yearly, an additional of foreign direct investment, net infl ows (% of GDP), will increase GDP per capita as much as US$207.146, and an additional of 1% access to electricity will increase GDP per capita as much as US$57.808.

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