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To lift the regional economic development and sustainability, foreign, domestic, and workers' remittance investment play their role in the progression of the economic cycle. By setting the objective, the current study examines the role of foreign direct investment inflows (FDI), private capital investment (PCI), and workers' remittance (RMTw) as independent variables and demographic pressure as a control variable on economic growth. Furthermore, considering Asia's regional perspective of 43 developing and emerging economies, the role of globalization as a proxy for regional integration has also been analyzed. GDP per capita has been taken as a proxy of sustainable economic growth (SEG), and time has been taken from 2006 to 2019. By applying the two-step system generalized method of moments (SGMM), results say that investment attributes, FDI, and PCI support and accelerate the SEG in Asia by adding infrastructure development and trading activities. On the other hand, it states that RMTw negatively affects the SEG by putting economic pressure and reducing the workforce and idle money. Furthermore, regional integration aggressively supports the SEG in Asia, promoting Asia's trade, social, and political activities. It concludes that Asian SEG is influenced by the foreign and domestic inflows and regional integration that actively promotes economic growth, which needs to be supported by the governments in relaxing the investment regulation. Furthermore, remittance should be channelized with financial institutions to show its active contribution to the economic cycle. [ABSTRACT FROM AUTHOR]

This paper aims to empirically analyze the relationship between natural disaster, health spending, urban population, gross fixed capital formation, and gross domestic product (GDP) per capita for lower middle-income countries. The data cover the period 2000–2019. The methodological approach used is based on Granger causality and Vector Error Correction Model (VECM) procedures. Empirical result reveals that GDP per capita and health spending are correlated positively with urban population. The results also indicate that there is a one-way relationship running from natural disaster to GDP per capita and from natural disaster to health spending in short and long run, while two-way relationship between health spending and urban population in short term. In long run, there is two-way relationship between GDP per capita and health spending. [ABSTRACT FROM AUTHOR]

This study aims to investigate the effects of health expenditure on economic growth in Turkey. For this purpose, time series data of Turkey over the period 1975–2018 were evaluated. Moreover, household consumption, life expectancy at birth, trade, and foreign direct investments were added as control variables. Cointegration analysis was performed to test whether all variables are cointegrated in the long term. Causality test was successfully employed to investigate the relationship between health expenditure and economic growth in the short term. The achieved results exhibited that Johansen Cointegration test results suggest the existence of cointegration among all variables in the long term. In addition, the Granger causality test results indicate unidirectional causality from health expenditure to economic growth in the short term. Existence of a long-term relationship among related variables and a short-term relationship between health expenditure and economic growth displays the importance of investments on health care services in Turkey. Therefore, investments in the health sector should be encouraged and the share allocated by the government for health expenditures from the budget should be increased in Turkey. [ABSTRACT FROM AUTHOR]

This study explores the linkage between human capital particularly life expectancy and literacy and GDP per capita in selected South Asian economies. The study uses annual panel data of Bangladesh, India, Nepal, Pakistan, and Sri Lanka for the period 2000–2016, published by the World Bank. It applies panel unit root test, Pedroni cointegration test, panel autoregressive distributed lagged (ARDL) bound test, and Dumitrescu-Hurlin panel causality test. The result from Pedroni cointegration test and panel ARDL bound test revealed that GDP per capita (LGDPC), life expectancy at birth (LEB), and adult literacy rate (ALR) have both long-run as well as short-run association. Dumitrescu-Hurlin panel causality test evidences bidirectional causality between LEB and LGDPC, ALR and LGDPC, and ALR and LEB. It means that life expectancy at birth causes GDP per capita, and increased per capita income causes life expectancy to rise through better health care. Adult literacy rate causes GDP per capita income positively; enhanced per capita income causes adult literacy rate to rise through spending on education. Lastly, literacy causes life expectancy through better job, higher earning, and healthier behavior, while life expectancy causes literacy through longer and better life, leading to more productivity and resultant incremental income enabling to spend more on education. Therefore, the policy makers of South Asian countries should promote further quality education and better health through human capital formation to achieve sustainable growth in per capita income. [ABSTRACT FROM AUTHOR]