Research Paper by Prof. Amit Chatterjee from MIT-WPU School of Economics was published in IGI Emerald – USA (3rd Best Magazine in the field of Economics Worldwide) on the subject “ Depression Rate, GDP Growth Rate, Health Expenditure, and Voice and Accountability: Are there Co- Movements ?”
The study investigates whether depression rate has long run co-movements with growth of per capita GDP, health expenditure, and voice and accountability of the citizens for individuals as well as panels of four countries, USA, China, India and Bangladesh, for the period 1995 to 2016.
The Study reveals that individual country results do not produce acceptable and robust results, but the panel data results produce long run relations among the four endogenous variables. The Wald test results show that all the two lagged values of depression rate, growth rate, health expenditure and voice and accountability are making a cause to rate of depression in the current period. Further it reveals that the countries with higher per capita income like USA have higher rates of mental depression. Hence the claim of low income and un- equitable distribution of income being one of the discernible causes of mental disorder is not justified and even the high income countries with high volume of health expenditure and good governance in terms of voice and accountability can also lead to high magnitudes of depression rate. Like destitution makes unhappy in the long run. Hence the countries should emphasize on thinking whether more liberty should be provided to the people in terms of earning income, free voice, uncontrolled life styles, etc. so far as controlling mental depression rate being the target.Know More