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A Dynamic Heterogeneous Panel Model for Predicting Healthcare Expenditure in the Middle East Countries

In: Fostering Recovery Through Metaverse Business Modelling

Author

Listed:
  • Shailender Singh

    (Symbiosis Centre for Management Studies (Symbiosis International Deemed University, Pune))

  • Muhammad Muazu Bala

    (SRM University-AP)

Abstract

This study presents some evidence to the literature concerning the long-run income elasticity of public and private health expenditure and its key determinants in the fifteen countries of the Middle East, for the period of 2005–2016. The findings are consistent with conventional findings of long-run income elasticity of public healthcare expenditure above unity. However, the exact opposite holds true for the elasticity coefficient of private health spending. Therefore, the elasticity estimates suggest that public health care is a luxury while private health care is a necessity in this context. The level of education drives up the growth rate of healthcare expenditure growth. However, though statistically insignificant, the level of real wage and population aging shows signs that are theoretically incongruent. The evidence on panel cointegration remains inconclusive. Therefore, expanding the coverage of chronic diseases services by the public sector is the primary policy implication of these findings. Other implications of the results are also drawn along with possible future research areas.

Suggested Citation

  • Shailender Singh & Muhammad Muazu Bala, 2023. "A Dynamic Heterogeneous Panel Model for Predicting Healthcare Expenditure in the Middle East Countries," Springer Proceedings in Business and Economics, in: Alina Mihaela Dima & Elena Rodica Danescu (ed.), Fostering Recovery Through Metaverse Business Modelling, pages 113-122, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-28255-3_9
    DOI: 10.1007/978-3-031-28255-3_9
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