Journal
ECONOMICS LETTERS
Volume 116, Issue 3, Pages 541-544Publisher
ELSEVIER SCIENCE SA
DOI: 10.1016/j.econlet.2012.04.040
Keywords
Healthcare expenditure; GDP; Toda-Yamamoto causality; OECD
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In this paper, a modified version of the Granger causality test proposed by Toda and Yamamoto is used to investigate causality between GDP and healthcare expenditure in OECD countries. The findings indicate that bidirectional Granger causality is predominant. (C) 2012 Elsevier B.V. All rights reserved.
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