Evaluating the Impact of Health Expenditure (% of GDP) on Economic Growth: An Econometric Study of BRICS Countries

Abstract

Economic growth remains a critical indicator of national development, reflecting a country’s ability to generate employment, enhance productivity, and improve living standards. Among the various determinants of growth, investment in human capital, particularly health expenditure, has gained increasing attention. In emerging economies like the BRICS nations (Brazil, Russia, India, China, and South Africa), health spending is not merely a social welfare measure but a potential catalyst for sustainable economic performance. Understanding how health expenditure as a percentage of GDP influences growth is essential for formulating effective fiscal and development policies in these rapidly evolving economies.