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Does Trade in Medical Products Improve Health Outcomes in Nigeria? A Macro-Level Analysis

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  • Oyelade, Aduralere Opeyemi
  • Maku, Olukayode Emmanuel
  • Oladimeji, Akinfemi

Abstract

This study examined the relationship between trade in medical products and health outcomes in Nigeria. Annual time series data ranging from 1980 to 2016 was sourced from Business Monitor International (BMI, 2017), World Development Indicators (WDI, 2018) and National Bureau of Statistics (NBS, 2018) was used for the study. The study make used of Grossman health demand theory and health outcome was measured by three indicators which are infant mortality rate (less than one), infant mortality rate (less than five) and life expectancy. The independent variables used in the model include trade in medical product, health finance, growth rate of gross domestic product, sanitation facilities, urbanization, education and total fertility rate. From the estimated results of ECM, trade in medical product reduces both infant mortality rate less than one, infant mortality rate less than five and life expectancy but reduction in terms of infant mortality rate less than one and that of infant mortality rate less indicates that trade in medical product improve health outcomes while the reduction in terms of life expectancy shows that trade in medical product worsen health outcomes in Nigeria. Therefore, trade in medical product only improve infant mortality rate less than one and that of five but worsen life expectancy. Most of the medical product has their side effect at old age. Therefore, the study recommended that there should be more investment in trade in medical product in Nigeria in other for both infant mortality rate (less than one) and infant mortality rate (less than five) to be improve more significantly. The investment in trade in medical product should be on product that will also lead to increase in life expectancy and there should be a control on the number of children given birth to by individual household in Nigeria.

Suggested Citation

  • Oyelade, Aduralere Opeyemi & Maku, Olukayode Emmanuel & Oladimeji, Akinfemi, 2021. "Does Trade in Medical Products Improve Health Outcomes in Nigeria? A Macro-Level Analysis," African Journal of Economic Review, African Journal of Economic Review, vol. 10(1), December.
    • Handle: RePEc:ags:afjecr:320559
    DOI: 10.22004/ag.econ.320559
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    References listed on IDEAS

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    1. Grossman, Michael, 1972. "On the Concept of Health Capital and the Demand for Health," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 223-255, March-Apr.
    2. Waeger, Patricia, 2007. "Trade in health services: an analytical framework," Kiel Advanced Studies Working Papers 441, Kiel Institute for the World Economy (IfW Kiel).
    3. Novignon, Jacob & Atakorah, Yaw Boateng, 2016. "How does the health sector benefit from trade openness? Evidence form panel data across sub-Saharan Africa countries," MPRA Paper 72258, University Library of Munich, Germany.
    4. Philip Stevens & Jasson Urbach & Gabrielle Wills, 2013. "Healthy Trade: The Relationship Between Open Trade and Health," Foreign Trade Review, , vol. 48(1), pages 125-135, February.
    5. Bichaka Fayissa & Paulos Gutema, 2008. "A Health Production Function for Sub-Saharan Africa (SSA)," Working Papers 200808, Middle Tennessee State University, Department of Economics and Finance.
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