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The Relative Importance of Health Care and Social Services for Population Health: A Time Series Investigation

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  • Benjamin Yawney
  • Akhter Faroque

Abstract

We study the relative importance of government health care and social services spending in the short, medium and long run across vector error correction models for six population health indicators. Each model takes into account the key time series properties of the health input and output data and also controls for the broader socio-economic, demographic, life-style and environmental determinants of health. The evidence shows that both types of spending contribute significantly to extending life expectancy and lowering mortality. However, the relative contributions of health care spending are bigger in the short run, while those of social services spending are bigger in the medium and the long run. Any policy of re-allocation of resources from health care to social services must take this trade-off into account.

Suggested Citation

  • Benjamin Yawney & Akhter Faroque, 2019. "The Relative Importance of Health Care and Social Services for Population Health: A Time Series Investigation," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 11(10), pages 93-105, October.
    • Handle: RePEc:ibn:ijefaa:v:11:y:2019:i:10:p:93-105
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    References listed on IDEAS

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    1. Banerjee, Anindya & Dolado, Juan J. & Galbraith, John W. & Hendry, David, 1993. "Co-integration, Error Correction, and the Econometric Analysis of Non-Stationary Data," OUP Catalogue, Oxford University Press, number 9780198288107.
    2. Robert E. Hall & Charles I. Jones, 2007. "The Value of Life and the Rise in Health Spending," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 122(1), pages 39-72.
    3. Pickett, Kate E. & Wilkinson, Richard G., 2015. "Income inequality and health: A causal review," Social Science & Medicine, Elsevier, vol. 128(C), pages 316-326.
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    More about this item

    Keywords

    health care; social services; vector error correction model;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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