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Book part
Publication date: 29 January 2021

Eddie C. Cheung and Yiu C. Ma

This chapter attempts to study the long-term determinants of public and private healthcare expenditure in Hong Kong, by employing time series data over the period from…

Abstract

This chapter attempts to study the long-term determinants of public and private healthcare expenditure in Hong Kong, by employing time series data over the period from 1990 to 2017. We find that income is not a determinant of either public or private spending per capita on healthcare services. Rather, a higher proportion of elderly will raise public expenditure on health and private spending even more. The share of children within the population will conversely decrease both public and private spending. Results also show that the rising density of doctors decreases both public and private per capita healthcare spending, showing that the supplier-induced demand problem is not an issue in Hong Kong.

Details

Modeling Economic Growth in Contemporary Hong Kong
Type: Book
ISBN: 978-1-83909-937-3

Keywords

Article
Publication date: 8 October 2020

Chukwuebuka Bernard Azolibe, Chidinma Emelda Nwadibe and Chidimma Maria-Gorretti Okeke

Africa's population is the second largest and fastest growing in the world after Asia, and this puts African governments under great stress in terms of increased public

Abstract

Purpose

Africa's population is the second largest and fastest growing in the world after Asia, and this puts African governments under great stress in terms of increased public expenditure and is faced with a low revenue generation. Hence, the need for this study. The purpose of this paper is to examine the socio-economic determinants of public expenditure in Africa by assessing the influence of population age structure using a sample of the top ten most populous countries in Africa covering period of 1989 to 2018.

Design/methodology/approach

The study employed panel fully modified ordinary least square (OLS) in estimating the relevant relationship between the variables in the model. The dynamic ordinary least square (DOLS) model was also used to check the robustness of the fully modified ordinary least square (FMOLS) results.

Findings

The findings revealed that the major population age structure that influences the growth of public expenditure in Africa are population ages (0–14) and population ages (15–64), but the former poses a stronger significant influence than the latter while population ages (65 and above) has a negative and insignificant influence. Also, in terms of other socio-economic factors, self-employment has a reducing and significant influence on public expenditure. GDP per capita has a negative and insignificant influence while foreign aid and unemployment rate has an increasing influence. Finally, inflation rate and control of corruption (CC) has a negative relationship with public expenditure.

Social implications

The study argues that an increase in the young and working population will put enormous pressure on the government in the provision of more jobs and other public infrastructures such as health care and education. In the context of African economy with a low revenue generation, public expenditure will be low and the desperately poor masses will be denied of these public infrastructures.

Originality/value

Several studies (Jibir and Aluthge, 2019; Tayeh and Mustafa, 2011; Okafor and Eiya, 2011; Obeng and Sakyi, 2017; Ofori-Abebrese, 2012) have investigated the determinants of public expenditure using total population as a variable. However, this study is unique as it focused on the influence of population age structure on public expenditure in Africa. Also, the study incorporated other socio-economic determinants of public expenditure such as self-employment, standard of living, inflation rate, unemployment rate, foreign aid and corruption in its analytical model. To the best of our knowledge, some of these variables have not been employed in previous studies.

Details

International Journal of Social Economics, vol. 47 no. 11
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 4 December 2017

Subhalaxmi Mohapatra

The purpose of this paper is to employ a two-step approach to investigate the bi-directional causal linkage between: economic growth (measured by GDP) and public

Abstract

Purpose

The purpose of this paper is to employ a two-step approach to investigate the bi-directional causal linkage between: economic growth (measured by GDP) and public expenditure on health; public expenditure on health and infant mortality rate (IMR); and economic growth and IMR in the Indian context.

Design/methodology/approach

The present study uses econometric analysis, namely, panel cointegration and Granger causality on 20-year panel data on 16 major Indian states to investigate the causality.

Findings

The results suggest GDP to Granger cause public expenditure on health both in the short run and in the long run, but public expenditure on health to Granger cause GDP only in the long run. Further, public expenditure on health and economic growth were found to Granger cause IMR in the long run. However, the reverse linkage from IMR to public expenditure on health and/or economic growth was not significant.

Research limitations/implications

The present study provides support to the existing literature on the effects of economic growth on health expenditure and health outcomes but also raises a question on the time required to realize the same.

Practical implications

The findings have implications for policy makers on the time frame and application of health expenditure to achieve better results.

Originality/value

The present study is one of the first to test the tripartite linkage between economic growth, public health expenditure and health outcomes at a state-level analysis.

Details

International Journal of Social Economics, vol. 44 no. 12
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 March 2013

John F. Sacco and Gerard R. Busheé

This paper analyzes the impact of economic downturns on the revenue and expense sides of city financing for the period 2003 to 2009 using a convenience sample of the…

Abstract

This paper analyzes the impact of economic downturns on the revenue and expense sides of city financing for the period 2003 to 2009 using a convenience sample of the audited end of year financial reports for thirty midsized US cities. The analysis focuses on whether and how quickly and how extensively revenue and spending directions from past years are altered by recessions. A seven year series of Comprehensive Annual Financial Report (CAFR) data serves to explore whether citiesʼ revenues and spending, especially the traditional property tax and core functions such as public safety and infrastructure withstood the brief 2001 and the persistent 2007 recessions? The findings point to consumption (spending) over stability (revenue minus expense) for the recession of 2007, particularly in 2008 and 2009.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 25 no. 3
Type: Research Article
ISSN: 1096-3367

Abstract

Details

Economic Growth and Social Welfare: Operationalising Normative Social Choice Theory
Type: Book
ISBN: 978-0-44451-565-0

Article
Publication date: 5 August 2019

Sharmila Gamlath and Radhika Lahiri

The purpose of this paper is to explore the manner in which the degree of substitutability between public and private health expenditures contributes towards the…

Abstract

Purpose

The purpose of this paper is to explore the manner in which the degree of substitutability between public and private health expenditures contributes towards the distribution of wealth and political economy outcomes in the long run.

Design/methodology/approach

An overlapping generations model with heterogeneous agents where a person’s probability of survival into old age is determined by a variable elasticity of substitution (VES) health production function with public and private expenditures as inputs is developed. Public expenditure on health is determined through a political economy process.

Findings

Analytical and numerical results reveal that higher substitutability between private and public expenditures at the aggregate level and a higher share of public spending in the production of health lead to higher long run wealth levels and lower inequality. In the political equilibrium, higher aggregate substitutability between public and private health expenditures is associated with more tax revenue allocated towards public health. For most parameter combinations, the political economy and welfare maximising proportions of tax revenue allocated towards public health care converge in the long run.

Research limitations/implications

The paper is a theoretical investigation of how substitutability between public and private health expenditures affect transitional and long run macroeconomic outcomes. These results are amenable to further empirical investigation.

Practical implications

The findings indicate that policies to improve institutional aspects that yield higher substitutability between public and private health expenditures and returns to public health spending could lead to better long run economic outcomes.

Social implications

The results provide a political economy explanation for the low investments in public health care in developing countries, where aggregate substitutability between public and private health expenditures is likely to be lower. Furthermore, comparing the political economy and welfare maximising paradigms broadens the scope of the framework developed herein to provide potential explanations for cross-country differences in health outcomes.

Originality/value

This paper adopts an innovative approach to exploring this issue of substitutability in health expenditures by introducing a VES health production function. In an environment where agents have heterogeneous wealth endowments, this specification enables a distinction to be made between substitutability of these expenditures at the aggregate and individual levels, which introduces a rich set of dynamics that feeds into long run outcomes and political economy results.

Details

Journal of Economic Studies, vol. 46 no. 4
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 1 March 1994

Andrew M. McLaughlin and Jeremy. J. Richardson

Budgetary reform in the UK since the International Monetary Fund (IMF) intervention under a Labour government in 1976 has been prompted by a new conventional wisdom that…

Abstract

Budgetary reform in the UK since the International Monetary Fund (IMF) intervention under a Labour government in 1976 has been prompted by a new conventional wisdom that public expenditure was too high, and consequently, "crowded out" private sector investment. Although this belief became widespread in western democracies, in Britain it developed relatively early and was closely linked to the wider debate about Britain's relative economic decline. The first section of this article reviews the main reforms of the budgetary process which these concerns prompted.

In the second section we note that, despite the political concern with reducing public expenditure in the 1980s, success has been limited and priority is now the improvement of the underlying control and evaluation mechanisms in government spending. In practice, the main policy activity of the Thatcher administrations was on gaining "value for money" from existing expenditure. These developments are discussed and the likelihood of success considered. The nature of the present annual budgetary cycle is described as are the most recent developments designed to finally gain some form of effective expenditure control.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 6 no. 1
Type: Research Article
ISSN: 1096-3367

Open Access
Article
Publication date: 17 February 2022

Şerif Canbay and Mustafa Kırca

The study aims to determine whether there is a bidirectional causality relationship between health expenditures and per capita income in Brazil, Russia, India, China…

Abstract

Purpose

The study aims to determine whether there is a bidirectional causality relationship between health expenditures and per capita income in Brazil, Russia, India, China, South Africa and Turkey (BRICS+T).

Design/methodology/approach

For that purpose, the 2000–2018 period data of the variables were tested with the Kónya (2006) panel causality test. Additionally, the causality relationships between public and private health expenditures and per capita income were also investigated in the study.

Findings

According to the analysis results, there is no statistically significant causality relationship from total health expenditures and public health expenditures to per capita income in the relevant countries. Besides, there is a unidirectional causality relationship from private health expenditures to per capita income only in Turkey. On the other hand, a unidirectional causality relationship from per capita income to total health expenditures in China, Russia, Turkey and South Africa and from per capita income to public health expenditures in India, Russia, Turkey and South Africa were determined. Consequently, a causality relationship from per capita income to private health expenditures was found out in Russia and Turkey.

Originality/value

The variables are tested for the first time for BRICS+T countries, vis-à-vis the period under consideration and the method used.

Details

Journal of Economics, Finance and Administrative Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2077-1886

Keywords

Book part
Publication date: 23 May 2019

Yan Vaslavskiy and Irina Vaslavskaya

The chapter is devoted to the factors aimed at optimizing the partnership of public and private sectors in the sphere of public infrastructure development. In modern…

Abstract

The chapter is devoted to the factors aimed at optimizing the partnership of public and private sectors in the sphere of public infrastructure development. In modern conditions of economic slowdown and budget consolidation in Russia, the infrastructure has become the most important driver of economic growth and public–private partnership (PPP) – the most perspective form of cooperation of public and private investors of infrastructure projects. PPP interpretation as a structural relationship of economic system allows the authors to model optimal combination of formal and informal institutions in order to stimulate long-term economic growth. It becomes promising to model replacement of budget funds by private investment to ensure positive impact on the Russian development despite the budget consolidation. It could only be achieved in the case of formal institutionalization of appropriate conditions for private investors as to low transactional costs and attractive financial parameters. There have been determined some PPP standards connected with public infrastructure projects in order to reduce capital expenditures of the budget funds and increase the inflow of private investment. The authors have managed to obtain model estimates and graphic interpretation of government expenditures’ efficiency increase that could help to structure the fiscal conditions to induce positive multiplier effect as a result of PPP forms improvement in the public infrastructure development.

Article
Publication date: 26 July 2021

Tahmina Sultana, Faroque Ahmed and Mohammad Tareque

Bangladesh is applauded for its achievement in various health and social outcomes though criticized for its failure in properly dealing with governance issues. The purpose…

Abstract

Purpose

Bangladesh is applauded for its achievement in various health and social outcomes though criticized for its failure in properly dealing with governance issues. The purpose of this paper is intends to see how the health outcomes (in case of life expectancy, under-five mortality and adolescent fertility) are impacted by health expenditure (both public and private), per capita income in presence of overall governance and female education. This paper assumes that rapid progress in female education reflects the Bangladeshis’ social responsiveness to change.

Design/methodology/approach

This paper uses autoregressive distributed lag technique to estimate the models with data ranges from 1990 to 2016 under two different scenarios.

Findings

This study has found that all the explanatory variables exert significant impact on health outcomes. Furthermore, public health expenditure is augmented with a composite governance issue, and this enhances robustness as well as statistical significance of the models. These suggest that the governance issues play a very crucial role to achieve the expected health outcomes. Female secondary enrolment ratio appears with improved coefficients in terms of sign and magnitude for all the health indicators.

Originality/value

This paper contributes to the existing literature showing econometric evidence that highlights the importance of governance and female education in improving health outcomes of Bangladesh apart from health expenditure and per capita gross domestic product.

Details

International Journal of Human Rights in Healthcare, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2056-4902

Keywords

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