Table 1:
Definition of variables and descriptive statistics
| Name | Signs | Calculation methods | Means | Minimum | Maximum |
|---|---|---|---|---|---|
| Explained variable | |||||
| Economic growth | GDP | Logarithm of GDP | 9.241 | 5.516 | 11.404 |
| Explanatory variable | |||||
| Healthcare expenditures | Heal | Logarithm of healthcare expenditures | 4.901 | 1.686 | 7.175 |
| Control variables | |||||
| Material capitals | Cap | Logarithm of fixed asset investment | 8.815 | 5.279 | 10.918 |
| Total consumption | Con | Logarithm of total retail sales of consumer goods | 8.202 | 4.291 | 10.551 |
| Total export | Exp | Logarithm of total exports | 6.901 | 2.606 | 10.646 |
| Human capital | Hum | Logarithm of number of college students | 13.175 | 9.851 | 14.516 |
| Urbanization rate | Urb | Proportion of urban population | 0.520 | 0.226 | 0.896 |