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Title: INDIA’S HEALTHCARE SECTOR: A STUDY USING OLS MODEL
Authors: Sankalp Rawal
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Sankalp Rawal Department of Economics, Aryabhatta College, University of Delhi, New Delhi, India, 110021
MLA 8 Rawal, Sankalp. "INDIA’S HEALTHCARE SECTOR: A STUDY USING OLS MODEL." Int. j. of Social Science and Economic Research, vol. 6, no. 7, July 2021, pp. 2443-2450, doi.org/10.46609/IJSSER.2021.v06i07.028. Accessed July 2021. APA 6 Rawal, S. (2021, July). INDIA’S HEALTHCARE SECTOR: A STUDY USING OLS MODEL. Int. j. of Social Science and Economic Research, 6(7), 2443-2450. Retrieved from doi.org/10.46609/IJSSER.2021.v06i07.028 Chicago Rawal, Sankalp. "INDIA’S HEALTHCARE SECTOR: A STUDY USING OLS MODEL." Int. j. of Social Science and Economic Research 6, no. 7 (July 2021), 2443-2450. Accessed July, 2021. doi.org/10.46609/IJSSER.2021.v06i07.028.
References [1]. Damodar N. Gujarati, “Essentials of Econometrics”, Fourth edition, ISBN: 978-0-07-337584-7, published by Douglas Reiner [2]. Economic Survey of India 2020-21, Vol.1, “Healthcare takes Centre Stage, Finally!”,pp.1-15 [3]. Hanmer, L., Lensink, R., and White, H. (2003) “Infant and Child Mortality in Developing Countries: Analysing the Data for Robust Determinants” Journal of Development Studies, Vol.40, No 1, pp 101-118. [4]. Hill, K. and Pebley, A. (1989), “Child Mortality in the Developing World” Population and Development Review, Vol. 15, No. 4, pp.657-687 [5]. World Bank’s Development Indicators-https://databank.worldbank.org/
Abstract: The pandemic has accentuated the relevance of the healthcare sector and its interplay with other vital sectors of the Indian economy. It has showcased how a healthcare crisis can get transformed into an economic and social crisis. It implies, a well-equipped and advanced healthcare sector is a need of the hour, but this comes at a great expense. Life expectancy and infant mortality rate are significant indicators of human development and critical health outcomes. They are influenced by a range of socioeconomic and demographic factors, especially expenditure on healthcare. Therefore, a big question is how India’s healthcare expenditure has impacted the country’s infant mortality rate and life expectancy? This paper intends to administer OLS (Ordinary Least Squares) method on quantitative secondary data collected from various databases to derive two linear regression models. These models aid to quantify the effect of HEPC (healthcare expenditure per capita) in current US$ on LEAB (life expectancy at birth) in years and IMR below five years (infant mortality rate below five years) per 1000 live births between the years 2005 and 2017. The results obtained from the study meet the empirical evidence, that is, increased health expenditure lowers infant mortality rate and increases life expectancy. A strong correlation between the variables persists at a 5% level of significance. Concisely, an increase of US$ 1 in HEPC increases LEAB by 0.119782 years and reduces the IMR below five years by 0.9094 per 1000 live births.

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