Is health care a luxury or necessity good? Evidence from Asian countries
Volume: 19, Issue: 2, Pages: 213 - 233
Published: Sep 21, 2018
Abstract
This study investigates long run relationship between health care expenditure and real income in fifteen selected Asian countries over the period 1995–2014 using the panel cointegration tests and controlling for cross-sectional dependence through unobserved common correlated factors (UCFs). The results show that health care expenditure and income are cointegrated. It is found that the income elasticity scales down when UCFs are controlled, which...
Paper Details
Title
Is health care a luxury or necessity good? Evidence from Asian countries
Published Date
Sep 21, 2018
Volume
19
Issue
2
Pages
213 - 233
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