Title: Health sector in North Macedonia - the analysis of the economic impact

Authors: Timotej Jagrič; Stefan O. Grbenic; Vita Jagrič

Addresses: Graz University of Technology, Austria; Department for Finance, Faculty of Economics and Business, Institute for Finance and Banking, University of Maribor, Slovenia ' Faculty of Mechanical Engineering and Economic Sciences, Institute of Business Economics and Industrial Sociology, Graz University of Technology, Austria ' Department for Finance, Faculty of Economics and Business, University of Maribor, Slovenia

Abstract: This paper analyses the economic impact of the healthcare sector in North Macedonia. We calculate various types of multipliers for the years 2010 and 2015 employing the methodology of input-output tables. The results indicate that additional spending into the healthcare sector has above-average stimulus effects on the national economy. Furthermore, we explore the ranking of the various sectors in the national economy concerning their multipliers' values, finding the healthcare sector to rank high. The results are in line with theoretical expectations based upon the findings of previous studies on the economic footprints of healthcare sectors in other European countries.

Keywords: healthcare sector; economic footprint; input-output tables; multipliers; sustainability.

DOI: 10.1504/IJSE.2020.111537

International Journal of Sustainable Economy, 2020 Vol.12 No.3, pp.281 - 296

Received: 02 Jul 2020
Accepted: 03 Sep 2020
Published online: 30 Nov 2020 *

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