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The Relationship between Health Expenditures and Foreign Direct Investment: Analysis of the ARDL Cointegration Approach and Toda-Yamamoto Causality

Year 2025, Volume: 75 Issue: 1, 170 - 188, 14.07.2025

M. Can Yardımcı , Şule Batbaylı Karanfil

https://doi.org/10.26650/ISTJECON2024-1597606

Abstract

The health sector comprises lots of themes which are health expenditures, health investments, the pharmaceutical and medical equipment industries, and health tourism. Health investments are often closely related to foreign direct investments. The priority motivation of foreign direct investments in field of health is humanistic development in other words, promoting human health. Investing in the health sector is difficult and carries inherent risks, despite the various contributions of FDI to a country’s economy. The conneciton between health expenditures in GDP, FDI in GDP, service trade volume in GDP and the number of doctors has been examined for Turkey with ARDL analysis between 1975 and 2019. Obtaining results show a long-term correlation among the variables for analysis period.

JEL Classification : F00 , H51

Keywords

Health expenditure Foreign Direct Investments Cointegration and Causality Approach

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Year 2025, Volume: 75 Issue: 1, 170 - 188, 14.07.2025

M. Can Yardımcı , Şule Batbaylı Karanfil

https://doi.org/10.26650/ISTJECON2024-1597606

Abstract

References

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There are 67 citations in total.

Details

Primary Language English
Subjects Ecological Economics
Journal Section Research Article
Authors

M. Can Yardımcı 0000-0002-2317-2249

Şule Batbaylı Karanfil 0000-0002-0836-9203

Publication Date July 14, 2025
Submission Date December 6, 2024
Acceptance Date January 2, 2025
Published in Issue Year 2025 Volume: 75 Issue: 1

Cite

APA Yardımcı, M. C., & Batbaylı Karanfil, Ş. (2025). The Relationship between Health Expenditures and Foreign Direct Investment: Analysis of the ARDL Cointegration Approach and Toda-Yamamoto Causality. İstanbul İktisat Dergisi, 75(1), 170-188. https://doi.org/10.26650/ISTJECON2024-1597606
AMA Yardımcı MC, Batbaylı Karanfil Ş. The Relationship between Health Expenditures and Foreign Direct Investment: Analysis of the ARDL Cointegration Approach and Toda-Yamamoto Causality. İstanbul İktisat Dergisi. July 2025;75(1):170-188. doi:10.26650/ISTJECON2024-1597606
Chicago Yardımcı, M. Can, and Şule Batbaylı Karanfil. “The Relationship Between Health Expenditures and Foreign Direct Investment: Analysis of the ARDL Cointegration Approach and Toda-Yamamoto Causality”. İstanbul İktisat Dergisi 75, no. 1 (July 2025): 170-88. https://doi.org/10.26650/ISTJECON2024-1597606.
EndNote Yardımcı MC, Batbaylı Karanfil Ş (July 1, 2025) The Relationship between Health Expenditures and Foreign Direct Investment: Analysis of the ARDL Cointegration Approach and Toda-Yamamoto Causality. İstanbul İktisat Dergisi 75 1 170–188.
IEEE M. C. Yardımcı and Ş. Batbaylı Karanfil, “The Relationship between Health Expenditures and Foreign Direct Investment: Analysis of the ARDL Cointegration Approach and Toda-Yamamoto Causality”, İstanbul İktisat Dergisi, vol. 75, no. 1, pp. 170–188, 2025, doi: 10.26650/ISTJECON2024-1597606.
ISNAD Yardımcı, M. Can - Batbaylı Karanfil, Şule. “The Relationship Between Health Expenditures and Foreign Direct Investment: Analysis of the ARDL Cointegration Approach and Toda-Yamamoto Causality”. İstanbul İktisat Dergisi 75/1 (July2025), 170-188. https://doi.org/10.26650/ISTJECON2024-1597606.
JAMA Yardımcı MC, Batbaylı Karanfil Ş. The Relationship between Health Expenditures and Foreign Direct Investment: Analysis of the ARDL Cointegration Approach and Toda-Yamamoto Causality. İstanbul İktisat Dergisi. 2025;75:170–188.
MLA Yardımcı, M. Can and Şule Batbaylı Karanfil. “The Relationship Between Health Expenditures and Foreign Direct Investment: Analysis of the ARDL Cointegration Approach and Toda-Yamamoto Causality”. İstanbul İktisat Dergisi, vol. 75, no. 1, 2025, pp. 170-88, doi:10.26650/ISTJECON2024-1597606.
Vancouver Yardımcı MC, Batbaylı Karanfil Ş. The Relationship between Health Expenditures and Foreign Direct Investment: Analysis of the ARDL Cointegration Approach and Toda-Yamamoto Causality. İstanbul İktisat Dergisi. 2025;75(1):170-88.
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