Title:
THE NEXUS BETWEEN ECONOMIC GROWTH, URBANIZATION AND HEALTH INDUSTRY IN BANGLADESH- AN EMPIRICAL APPROACH

Authors:
Saanjaana Rahman

Abstract:
Economic theory postulates that urbanization is a demographic process where an increasing share of the national population lives within urban settlements (Arouri et al., 2014). With the change in momentum, as industrialization accelerated, so did urbanization, as enervate farm workers flocked to factories in the hope of better living standards. Urbanization increases energy usage by aggravating the demand for housing, land use, public utilities, food, electric appliances and nonetheless transportation. The energy demand will keep on increasing in the coming years as development targets and economic growth accelerates. Bangladesh aims to become a middleincome nation by 2021. Bangladesh has become the New Asian Tiger and has the potential to be the 28th largest economy in the world by 2030. The complex dynamics between energy demand and urbanization have increasingly attracted debates over the past decades. Economic theory has long struggled in attempting to explain the impact of urbanization on energy demand (Luo, 2014). Good governance is important in this aspect as the country has set a target to gain universal health coverage by 2023 to pay 70% of the medical expenses. However, healthcare industry needs to utilize renewable energy and smart technology for the sustained economic growth. Bangladesh should adopt appropriate energy policies to curb down the constraints regarding energy supply, to spur economic growth and urbanization