Factors Affecting Health Status across Nations - Research Paper Example

Heath condition in an economy is thus a crucial factor determining its long-run growth. This dissertation tries to precisely focus on the primary factors that can highly influence the quality of health in a nation. In order to resolve the desired objective of research, both quantitative and qualitative analysis methods are used. The qualitative context elaborated the facts that health in the contemporary world acts as a normal good but should actually be treated as a social good. A literature review is also included under the framework of the qualitative analysis.

The quantitative analysis was executed to full proof the information accumulated from the qualitative research. The sample used is a pooled data of 60 nations for 13-time dimensions. The paper at the end will prove that health is actually a social good and its status in a nation can significantly be improved with the help of adequate public expenditure, female literacy and access to improved sanitation facility. However, the analysis will also prove that since in the modern days health acts as a normal good, parameters like gross domestic product per capita and private expenditure on health can also help to improve the health conditions in a nation in the long run.

Human wants are unlimited in the global economy, but the resources available to satisfy these unlimited human wants are always scarce in nature. The primary economic problem that is resolved in each and every economy is to determine the appropriate mode if resource allocation.The study of economics has gained significant importance in the recent years, as researchers and analysts actively try to frame out efficient methods, through which the scarce resources in an economy can be channelized in the most productive means.

The private and public authorities in a country in the contemporary world try to assign resources to satisfy human wants and demands, according to the degree of their relative importance’s (Scully, “Economic Freedom and the Trade-off between Inequality and Growth”).The study of health economics applies the generalized principles of economics in the healthcare sector in an economy. The subject tries to attain allocation efficiency in the health segment in a nation.