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Effects of Health Shocks, Insurance, and Education on Income: Fresh Analysis Using CHNS Panel Data

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  • Issam Khelfaoui

    (School of Insurance and Economics, University of International Business and Economics, Beijing 100029, China)

  • Yuantao Xie

    (School of Insurance and Economics, University of International Business and Economics, Beijing 100029, China)

  • Muhammad Hafeez

    (Institute of Business and Management Sciences, University of Agriculture, Faisalabad 38040, Pakistan)

  • Danish Ahmed

    (School of Finance and Economics, Jiangsu University, Zhenjiang 212013, China
    School of Foreign Language, Shanghai Jianqiao University, Shanghai 201315, China
    Department of Business Administration, HANDS—Institute of Development Studies (HANDS-IDS), Karachi 75230, Pakistan
    Center for Islamic Finance, University of Bolton, Bolton BL3 5AB, UK)

  • Houssem Eddine Degha

    (Department of Mathematics and Computer Science, Faculty of Science and Technology, Université de Ghardaia, Ghardaia 47000, Algeria)

  • Hicham Meskher

    (Laboratory of Valorization and Promotion of Saharan Resources (VPSR), Kasdi-Merbah University, Ouargla 30000, Algeria)

Abstract

The most important asset for a person is their health and wellbeing. While it is possible to keep one’s health at its best, it is common for people to have health shocks (HSs; negative shocks to an individual’s health). In this study, using Chinese Health and Nutrition Survey (CHNS) panel data, we studied the impact of different HSs on income using new modified methods. Thus, we considered the substantial links among different HSs, levels of education, and insurance types, as well as their impact on people’s wealth defined by their income. The core aim of this study is to help devise and guide new policies to reduce the effect of these HSs through the proper use of education and insurance channels. In this research, we used simple pooled OLS regression to measure the different causality estimates of HSs, education, and insurance, as well as their interactions. Obtained through the use of up-to-date panel data, the study results are consistent with previous research using different HS and education measures. The findings of this research suggest revising previous policies concerning education levels and health insurance schemes.

Suggested Citation

  • Issam Khelfaoui & Yuantao Xie & Muhammad Hafeez & Danish Ahmed & Houssem Eddine Degha & Hicham Meskher, 2022. "Effects of Health Shocks, Insurance, and Education on Income: Fresh Analysis Using CHNS Panel Data," IJERPH, MDPI, vol. 19(14), pages 1-17, July.
    • Handle: RePEc:gam:jijerp:v:19:y:2022:i:14:p:8298-:d:857556
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