The relationship between insurance development, population, economic growth, and health expenditures in OECD countries: a panel causality analysis
Abstract This paper examines the relationship between insurance development, population, economic growth, and health expenditures for a panel of 31 OECD countries over the period 1995–2021. A dynamic panel data analysis based on cointegration, FMOLS, DOLS, VECM, and Granger causality tests is employ...
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| Format: | Article |
| Language: | English |
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SpringerOpen
2024-11-01
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| Series: | Future Business Journal |
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| Online Access: | https://doi.org/10.1186/s43093-024-00404-7 |
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| author | Moheddine Younsi Marwa Bechtini Mongi Lassoued |
| author_facet | Moheddine Younsi Marwa Bechtini Mongi Lassoued |
| author_sort | Moheddine Younsi |
| collection | DOAJ |
| description | Abstract This paper examines the relationship between insurance development, population, economic growth, and health expenditures for a panel of 31 OECD countries over the period 1995–2021. A dynamic panel data analysis based on cointegration, FMOLS, DOLS, VECM, and Granger causality tests is employed to suggest for the existence of a long-run relationship among variables. The long-run results show that insurance development, national income, and population exhibit positive impacts on health expenditures. The results reveal that insurance factor has larger income effects than substitution effects on health expenditures. Regarding the short-run causal relationship between the variables, the empirical results suggest that economic growth strengthens health expenditure growth, while insurance growth reduces it. In the short-run, insurance development has a crowding-out effect since it produces larger substitution effects than income effects. The results provide political implications that governments need to concern the short-run crowding-out effect of private insurance sections on health expenditures when making fiscal policies on public health expenditures. |
| format | Article |
| id | doaj-art-70412c17062e466c8ca69db8a1ef7cbf |
| institution | OA Journals |
| issn | 2314-7202 2314-7210 |
| language | English |
| publishDate | 2024-11-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Future Business Journal |
| spelling | doaj-art-70412c17062e466c8ca69db8a1ef7cbf2025-08-20T02:31:59ZengSpringerOpenFuture Business Journal2314-72022314-72102024-11-0110111910.1186/s43093-024-00404-7The relationship between insurance development, population, economic growth, and health expenditures in OECD countries: a panel causality analysisMoheddine Younsi0Marwa Bechtini1Mongi Lassoued2Department of Business Administration, College of Science and Humanities, Shaqra UniversityDepartment of Business Administration, College of Science and Humanities, Shaqra UniversityDepartment of Economics, Higher Institute of Finance and Taxation, University of SousseAbstract This paper examines the relationship between insurance development, population, economic growth, and health expenditures for a panel of 31 OECD countries over the period 1995–2021. A dynamic panel data analysis based on cointegration, FMOLS, DOLS, VECM, and Granger causality tests is employed to suggest for the existence of a long-run relationship among variables. The long-run results show that insurance development, national income, and population exhibit positive impacts on health expenditures. The results reveal that insurance factor has larger income effects than substitution effects on health expenditures. Regarding the short-run causal relationship between the variables, the empirical results suggest that economic growth strengthens health expenditure growth, while insurance growth reduces it. In the short-run, insurance development has a crowding-out effect since it produces larger substitution effects than income effects. The results provide political implications that governments need to concern the short-run crowding-out effect of private insurance sections on health expenditures when making fiscal policies on public health expenditures.https://doi.org/10.1186/s43093-024-00404-7Insurance developmentHealth expendituresEconomic growthPopulationDynamic panel models |
| spellingShingle | Moheddine Younsi Marwa Bechtini Mongi Lassoued The relationship between insurance development, population, economic growth, and health expenditures in OECD countries: a panel causality analysis Future Business Journal Insurance development Health expenditures Economic growth Population Dynamic panel models |
| title | The relationship between insurance development, population, economic growth, and health expenditures in OECD countries: a panel causality analysis |
| title_full | The relationship between insurance development, population, economic growth, and health expenditures in OECD countries: a panel causality analysis |
| title_fullStr | The relationship between insurance development, population, economic growth, and health expenditures in OECD countries: a panel causality analysis |
| title_full_unstemmed | The relationship between insurance development, population, economic growth, and health expenditures in OECD countries: a panel causality analysis |
| title_short | The relationship between insurance development, population, economic growth, and health expenditures in OECD countries: a panel causality analysis |
| title_sort | relationship between insurance development population economic growth and health expenditures in oecd countries a panel causality analysis |
| topic | Insurance development Health expenditures Economic growth Population Dynamic panel models |
| url | https://doi.org/10.1186/s43093-024-00404-7 |
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