跳至主要内容

Dynamics of Health Expenditures in OECD Countries: Panel ARDL Approach

Read full paper at:
http://www.scirp.org/journal/PaperInformation.aspx?PaperID=50431#.VD9BLVfHRK0

This study used a panel data set, which is including 15 OECD countries that have high income per capita for the time period of 1995-2011. Following causality and autoregressive distributed lag (ARDL), paper yields: 1) respectively the largest and the smallest impacts on health expenditures are caused by public spending and the influences of Age Dependency Ratio Young (ADRY); 2) income and Age Dependency Ratio Old (ADRO) on health expenditures are positive; 3) another striking inference is that while young working population rate is increasing, health expenditure is decreasing.
Cite this paper
Doğan, İ. , Tülüce, N. and Doğan, A. (2014) Dynamics of Health Expenditures in OECD Countries: Panel ARDL Approach. Theoretical Economics Letters, 4, 649-655. doi: 10.4236/tel.2014.48082. 
 

[1] Solow, R.M. (1956) A Contribution to the Theory of Economic Growth. The Quarterly Journal of Economics, 70, 65-94.
[2] Easterly, W.R. and Wetzel, D.L. (1989) Policy Determinants of Growth: Survey of Theory and Evidence. PPR Working Paper Series, 343, The World Bank.
[3] Schultz, T.P. (1997) Assessing the Productive Benefits of Nutrition and Health: An Integrated Human Capital Approach. Journal of Econometrics, 77, 141-158.
http://dx.doi.org/10.1016/S0304-4076(96)01810-6
[4] Lucas Jr., R.E. (1988) On the Mechanics of Economic Development. Journal of Monetary Economics, 22, 3-42. http://dx.doi.org/10.1016/0304-3932(88)90168-7
[5] Barro, R. (1999) Human Capital and Growth in Cross Country Regressions. Swedish Economic Policy Review, 6, 237-277.
[6] Romer, P.M. (1986) Increasing Returns and Long-Run Growth. The Journal of Political Economy, 94, 1002-1037. http://dx.doi.org/10.1086/261420
[7] Baltagi, B.H. and Moscone, F. (2010) Health Care Expenditure and Income in the OECD Reconsidered: Evidence from Panel Data. Economic Modelling, 27, 804-811.
http://dx.doi.org/10.1016/j.econmod.2009.12.001
[8] Amiri, A. and Ventelou, B. (2012) Granger Causality between Total Expenditure on Health and GDP in OECD: Evidence from the Toda-Yamamoto Approach. Economics Letters, 116, 541-544.
http://dx.doi.org/10.1016/j.econlet.2012.04.040
[9] Albouy, V., Laurent D. and Debrand, T. (2010) Health Expenditure Models: A comparison Using Panel Data. Economic Modelling, 27, 791-803. http://dx.doi.org/10.1016/j.econmod.2010.02.006
[10] Bloom, D.E. and Canning, D. (2005) Health and Economic Growth: Reconciling the Micro and Macro Evidence. Working Paper, Harvard University.
[11] Clemente, J., Marcuiello, C., Montanes, A. and Pueyo, F. (2004) On the International Stability of Health Care Expenditure Functions: Are Government and Private Functions Similar? Journal of Health Economics, 23, 589-613. http://dx.doi.org/10.1016/j.jhealeco.2003.08.007
[12] Bhargava, A., Jamison, D.T., Lau, L.J. and Murray, C.J.L. (2001) Modeling the Effects of Health on Economic Growth. Journal of Health Economics, 20, 423-440. http://dx.doi.org/10.1016/S0167-6296(01)00073-X
[13] Di Matteo, L. and Di Matteo, R. (1998) Evidence on the Determinants of Canadian Provincial Government Health Expenditures: 1965-1991. Journal of Health Economics, 17, 211-228.
http://dx.doi.org/10.1016/S0167-6296(97)00020-9
[14] Hansen, P. and King, A. (1996) The Determinants of Health Care Expenditure: A Cointegration Approach. Journal of Health Economics, 15, 127-137.
http://dx.doi.org/10.1016/0167-6296(95)00017-8
[15] Murthy, N.R.V. and Ukpolo, V. (1994) Aggregate Health Care Expenditure in the United States: Evidence from Cointegration Tests. Applied Economics, 26, 797-802.
http://dx.doi.org/10.1080/00036849400000094
[16] Leu, R.E. (1986) Public and Private Health Services: Complementarities and Conflicts. In: Culyer, A.J. and Jonsson, B., Eds., Blackwell, Oxford, 41-63.
[17] Gyimah-Brempong, K. and Wilson, M. (2004) Health Human Capital and Economic Growth in Sub-Saharan African and OECD Countries. The Quarterly Review of Economics and Finance, 44, 296-320. http://dx.doi.org/10.1016/j.qref.2003.07.002
[18] Xie, X.Q. (2005) Investment in Physical Capital, Investment in Health and Economic Growth in China. Investment Management and Financial Innovation, 1, 23-29.
[19] Moscone, F. and Tosetti, E. (2010) Testing for Error Cross Section Independence with an Application to US Health Expenditure. Regional Science and Urban Economics, 40, 283-291.
http://dx.doi.org/10.1016/j.regsciurbeco.2009.08.004
[20] Erdil, E. and Yetkiner, I.H. (2009) The Granger-Causality Between Health Care Expenditure and Output: A Panel Data Approach. Applied Economics, 41, 511-518.
http://dx.doi.org/10.1080/00036840601019083
[21] Narayan, S., Narayan, P.K. and Mishra, S. (2010) Investigating the Relationship between Health and Economic Growth: Empirical Evidence from a Panel of 5 Asian Countries. Journal of Asian Economics, 21, 404-411. http://dx.doi.org/10.1016/j.asieco.2010.03.006
[22] World Health Statistics (2013) Who Library Cataloguing-in-Publication Data.
http://www.who.int/gho/publications/world_health_statistics/EN_WHS2013_Full.pdf?ua=1
[23] Pesaran, M.H. and Smith, R. (1995) Estimating Lon-Run Relationship from Dynamic Heterogeneous Panels. Journal of Econometrics, 68, 79-113. http://dx.doi.org/10.1016/0304-4076(94)01644-F
[24] Pesaran, M.H. And Shin, Y. (1997) Long Run Structural Modelling. Unpublished Manuscript, University of Cambridge, Cambridge.
[25] Taban, S. (2006) Türkiye’de Saglk ve Ekonomik Büyüme arasindaki Nedensellik Iliskisi. Sosyoekonomi, 2, 060202.
[26] Devlin, N. and Hansen, P. (2001) Health Care Spending and Economic Output: Granger Causality. Applied Economics Letters, 8, 561-564. http://dx.doi.org/10.1080/13504850010017357
[27] Chen, W.C., Clarke, J.A. and Roy, N. (2013) Health and Wealth: Short Panel Granger Causality Tests for Developing Countries. The Journal of International Trade & Economic Development: An International and Comparative Review, 23, 755-784.
[28] Rahman, Md.M. (2011) Causal Relationship among Education Expenditure, Health Expenditure and GDP: A Case Study for Bangladesh. International Journal of Economics and Finance, 3, 149-159. http://dx.doi.org/10.5539/ijef.v3n3p149
[29] Pesaran, M.H., Shin, Y. and Smith, R. (2001) Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics, 16, 289-326. http://dx.doi.org/10.1002/jae.616
[30] Pesaran, M.H. and Shin, Y. (1999) An Autoregressive Distributed Lag Modeling Approach to Cointegration Analysis. In: Strom, S., Ed., Econometrics and Economic Theory in the 20th Century, Chapter 11, The Ragnar Frisch Centennial Symposium, Cambridge University Press, Cambridge.   eww141016lx
标签：

评论

发表评论

此博客中的热门博文

Does Immigration Promote the Investment of the Monopolistic Firm?

In the present paper, we examine the effect of increasing uncertainty of immigrants’ growth on the optimal timing of investment of a firm that has a monopolistic power over the labor market. It is revealed that when the uncertainty of immigrants’ growth is more than a threshold level, increasing uncertainty of immigrants’ growth accelerates the optimal timing of firms’ investment and enhances the economic growth, even if the uncertainty of immigrants’ growth is formulated by the geometric Brownian motion, which is in sharp contrast to the standard result that an increase in the uncertainty postpones the optimal timing. With an increase in the immigrants over the past ten years, workforces in the host countries have been growing significantly to the extent that the immigrants represent 70% of the increase in the workforce in Europe, and 47% in the United States as OECD indicates. In the present paper, we attempted to investigate the effect of increased uncertainty caused by the growi...
发表评论
阅读全文

Education Policy Implementation: A Mechanism for Enhancing Primary Education Development in Zanzibar

Education is one of the fundamental rights of individuals; therefore, the government of a country needs to develop and strengthen educational policy and quality as well as to ensure that everyone has equal access to basic education. The improvement of access and quality of education in the world is becoming as an essential factor in development, whereas the basic education (primary school), is acknowledged as a foundation of the higher educational development for every country. To fulfill this goal, governments introduce several policies and procedures; however, it requires some reforms and participation from the politician, policymakers, and other stakeholders to re-examine educational policy so that it can lead to multiplication and betterment of the reforms. Educational reforms actually focus on accountability. A positive educational development and reform is very challenging and needs more effort and strategy on how to use and utilize the resources effectively as such it can achie...
发表评论
阅读全文