Exploring the relationship between healthcare expenditure, income, medical technology, and aging: A pooled mean group analysis of African countries

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AuteurHOUENINVO, GBODJA HILAIRE
AuteurASSOUTO, ACHILLE BARNABE
Date d'ajout2026-06-02T16:06:57Z
Date de disponibilite2026-06-02T16:06:57Z
Date de publication2023
ResumeThis paper empirically examines the short and long-run relationships among healthcare expenditure, income, medical technology, and an aging population in a panel of 45 African countries over the period 1995-2018. We test for cross-sectional dependence among different countries and employ the pooled mean group estimator. The results support the presence of cross-sectional dependence in African countries and reveal that healthcare expenditure, income, medical technology, and aging population have a long-run relationship. Medical technology and an aging population are key drivers of healthcare expenditure in the low-income group as well as the middle-income group. The long-run income elasticities of healthcare expenditure are less than one for both income groups. Finally, we found bidirectional causality between healthcare expenditure and its determinants. Healthcare expenditure is considered a necessity for African countries. Nevertheless, low-income countries have higher income elasticities for private health expenditure compared to middle-income countries. We suggest that African governments should increase public healthcare spending since healthcare spending is a necessity. This increase will lead to growth in income and medical technology development, which will have a beneficial impact on health status.
DOI10.55493/5009.v11i2.4811
Autre identifiantBECDB-14510
URIhttps://dspace.uac.bj/handle/123456789/12383
Languefr
Fait partie deAsian Journal of Economic Modelling
SujetCross-section dependence
SujetHealthcare spending
SujetHealth financing
SujetIncome heterogeneity
SujetMedical technology
SujetPooled mean group estimator
SujetAfrica
TitreExploring the relationship between healthcare expenditure, income, medical technology, and aging: A pooled mean group analysis of African countries
TypeArticle

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