Macroeconomic Determinants of Health Expenditure Across Countries

Student: Maigur Anna

Educational Programme: Economics (Bachelor)

Year of Graduation: 2021

This work investigates what are the macroeconomic determinants of health expenditures. The considered data includes both developing and developed countries for over 30 years. Three models were tested with total, public and private expenditures as dependent variables in order to determine which part of total expenditures reacts the most on factor changes. The study conducted analysis using fixed-effect model. The results are that gross domestic product is the main driver of changes in healthcare expenditures. The results on other factors are not stable, however, government debt affects both private and public expenditures in the middle-income countries, while coefficient Gini, income taxes and unemployment rate influence only private expenditures in the middle-income countries.

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