Research On The Impact Of China's Financial Health Expenditure On Economic Growth

Health is the basic necessity of the residents for a better life.Since the reform and opening up,China's medical and health undertakings have developed rapidly and made great achievements.In 2017,the number of people participating in basic medical insurance in China has exceeded 1.35 billion,and government health expenditure has reached 1.52 trillion yuan,accounting for 7.49% of public financial expenditure.On the one hand,government health expenditure is expanding,which can improve the health level of residents,enrich the medical and health resources owned by residents,promote the accumulation of healthy human capital,thus promoting economic growth;on the other hand,it also brings huge economic burden to government public financial expenditure and brings adverse effects to economic development.Therefore,how the government controls the scale of government health expenditure to achieve economically efficient growth has become the research topic of this paper.In view of this,this paper combs the relevant literature and theory of the impact of healthy human capital on economic growth,combines the financial expenditure and economic development in China,and uses the provincial panel data from 2007 to 2017 to construct a general panel regression model and a threshold model to empirically examine the impact of government health expenditure on national economic growth.The results show that: first,the lack of awareness of government investment in healthy human capital leads to the insufficient scale of per capita government health expenditure.Secondly,the structure of government health expenditure has been continuously optimized,which reduces the burden of personal health expenditure.Thirdly,the allocation of government medical and health expenditure is not reasonable,and the gap between urban and rural health and health resources is large.According to the research results and China's actual situation,drawing on the experience of foreign developed countries in the development of health expenditure,this paper puts forward corresponding suggestions on optimizing the scale and structure of government health expenditure and cultivating the awareness of government and individual health human capital investment.