Macroeconomic Determinants of Maternal and Neonatal Mortality: A Global Panel Analysis

Background: Maternal mortality ratio (MMR) and neonatal mortality rate (NMR) are vital indicators of population health and health system performance. Despite recognition of macroeconomic influences on health outcomes, longitudinal cross-country evidence remains limited. Methods: This study analyzed panel data from 152 countries between 1991 and 2023 using World Health Organization and World Bank datasets. Dependent variables were MMR (per 100 000 live births) and NMR (per 1 000 live births). Independent variables included gross domestic product (GDP) per capita, inflation rate (IR), and unemployment rate (UR). Descriptive statistics, correlation analyses, the Levin–Lin–Chu unit root test, the Breusch–Pagan LM test, and the Hausman specification test guided model selection. Fixed and random effects regressions with robust standard errors were applied. Results: GDP per capita was inversely associated with both MMR (β = − 0.445, p < 0.001) and NMR (β = − 0.423, p < 0.001). Inflation showed a positive association with MMR (β = 0.035, p = 0.016) and NMR (β = 0.034, p = 0.004), while unemployment had no global effect. Regional heterogeneity was observed: in Africa, unemployment increased both MMR and NMR; in Europe, inflation correlated positively with mortality; and in Asia, the GDP–MMR relationship was strongest. Conclusion: Macroeconomic stability is crucial for improving maternal and neonatal survival. Sustained growth, inflation control, and labor market interventions—particularly in low-income regions—are essential for reducing mortality. Integrating macroeconomic and health policies could mitigate structural inequities and enhance global health outcomes. Clinical trial number: Not applicable.