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The Wellness Economy: A Comprehensive System of National Accounts Approach

Author

Listed:
  • Consing III, Rafael Martin M.

    (Asian Development Bank)

  • Barsabal, Michael John M.

    (Asian Development Bank)

  • Alvarez, Julian Thomas B.

    (Asian Development Bank)

  • Mariasingham , Mahinthan J.

    (Asian Development Bank)

Abstract

This paper provides a comprehensive discussion on different, interconnected methods of using the system of national accounts to measure the relevance of a country’s wellness sector to its overall economy. Procedures are discussed for using input–output analysis to derive the production and employment linkages between wellness and nonwellness sectors. We also discuss procedures for using the hypothetical extraction method to derive and decompose the production and employment losses that may arise when a country’s wellness sector is removed from the economy. These procedures are then used to provide estimates for ten countries in developing Asia across two time periods which together provide a proxy for the region (Asia-10), along with a discussion on how these wellness economies have grown and how each one's labor productivity and wellness sector structure have evolved between the two periods.

Suggested Citation

  • Consing III, Rafael Martin M. & Barsabal, Michael John M. & Alvarez, Julian Thomas B. & Mariasingham , Mahinthan J., 2020. "The Wellness Economy: A Comprehensive System of National Accounts Approach," ADB Economics Working Paper Series 631, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0631
    as

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    References listed on IDEAS

    as
    1. Zhi Wang & Shang-Jin Wei & Xinding Yu & Kunfu Zhu, 2017. "Measures of Participation in Global Value Chains and Global Business Cycles," NBER Working Papers 23222, National Bureau of Economic Research, Inc.
    2. Zhi Wang & Shang-Jin Wei & Kunfu Zhu, 2013. "Quantifying International Production Sharing at the Bilateral and Sector Levels," NBER Working Papers 19677, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    economy; employment; input–output; national accounts; wellness;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods

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