The effect of public health expenditure on the determination of the well-beingin OECD countries: A panel data model

Authors

  • Miguel Rodríguez Sánchez Universidade da Coruña, Observatorio Ocupacional, A Coruña, España
  • María Jesús Freire Seoane Universidade da Coruña, Observatorio Ocupacional, A Coruña, España
  • Carlos Pais Montes Universidade da Coruña, Observatorio Ocupacional, A Coruña, España

Keywords:

Human development index (HDI), Welfare, Health and education expenditure

Abstract

The aim of this paper is to establish the effects that public expenditure on healthand education may have on well-being, measured using the Human Development Index (HDI) inhigh income level countries, with the final objective of assessing the cost in terms of well-beingof budget reduction in health and education. The data used were taken from the 34 members ofthe Organisation for Economic Co-operation and Development (OECD) for the period 1980-2013.For the final estimate of the model only the data from 1980-2011 were used due to lack of datain the last years. The methodology chosen relies on an econometric model of panel data, andthe estimators are adapted to the specifics of these models, where the presence of temporaryautocorrelation, heteroscedasticity or contemporary correlation between panels is frequentlythe case. Finally, and for the sake of model robustness, an approach based on using differentestimators has been followed.

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Published

2018-01-01

Issue

Vol. 41 No. 115 (2018): Pages 1-150 (January-April 2018)

Section

Articles

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