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Long Term Health Spending Alongside Population Aging in N-11 Emerging Nations

Author

Listed:
  • Nemanja Rancic

    (Defense University of Belgrade)

  • Mihajlo (Michael) Jakovljevic

    (University of Kragujevac)

Abstract

The rise of “emerging markets” is one of the key changes that is causing the global economic situation to unravel. The Next Eleven (Next-11) countries are known as the second-tier group of “emerging economies” behind the BRICS. Regardless of their diverse socio-geographical characteristics, the Next-11 countries have similarities pointing out to their high economic potential. The paper presents long-term differentials of accelerated population aging and corresponding health expenditure in the Next-11 nations from 1995 to 2013. An increase in the proportion of the elderly population, coupled with falling fertility rates, led the Next-11 countries to increase health care expenditures. Total health spending, expressed as a percentage of gross domestic products, gives clear evidence of growth. Private expenditure on health has been undergoing constant increases in recent years, driven primarily by out-of-pocket spending. Regardless of different health care financing mechanisms, all Next-11 health systems appear to withstand a heavy burden of an aging population, threatening their fiscal sustainability in the upcoming decades.

Suggested Citation

  • Nemanja Rancic & Mihajlo (Michael) Jakovljevic, 2016. "Long Term Health Spending Alongside Population Aging in N-11 Emerging Nations," Eastern European Business and Economics Journal, Eastern European Business and Economics Studies Centre, vol. 2(1), pages 2-26.
    • Handle: RePEc:eeb:articl:v:2:y:2016:n:1:p:2-26
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    References listed on IDEAS

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    Cited by:

    1. Yewande Kofoworola Ogundeji & Babatunde Akomolafe & Kelechi Ohiri & Nuhu Natie Butawa, 2019. "Factors influencing willingness and ability to pay for social health insurance in Nigeria," PLOS ONE, Public Library of Science, vol. 14(8), pages 1-10, August.
    2. Mihajlo (Michael) Jakovljevic & Laura Romeu-Gordo & Mira Vukovic & Maja Krstic, 2017. "Gender-Specific Health-Seeking Behavior and Income Status among the Elderly Citizens of Serbia," Eastern European Business and Economics Journal, Eastern European Business and Economics Studies Centre, vol. 3(1), pages 67-86.
    3. Mihajlo Jakovljevic & Paula Odete Fernandes & João Paulo Teixeira & Nemanja Rancic & Yuriy Timofeyev & Vladimir Reshetnikov, 2019. "Underlying Differences in Health Spending Within the World Health Organisation Europe Region—Comparing EU15, EU Post-2004, CIS, EU Candidate, and CARINFONET Countries," IJERPH, MDPI, vol. 16(17), pages 1-15, August.

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