Determinants of health expenditures in ASEAN Plus Three Countries : a panel regression approach / by Paulyn Kate G. Dela Cruz, Jhienarina G. Rieza, Ro Ann R. Rivero and Jelina O. Siaron.

Thesis (Bachelor of Science in Economics) Cavite State University.

Includes bibliographical references.

College of Economics, Management and Development Studies (CEMDS).

DELA CRUZ, PAULYN KATE G., RIEZA, JHIENARINA G., RIVERO, RO ANN R., SIARON, JELINA O., Determinants of Health Expenditures in ASEAN Plus Three Countries: A Panel Regression Approach. Undergraduate Thesis. Bachelor of Science in Economics. Cavite State University, Indang, Cavite. August 2022. Adviser: Dr. Jenny Beb F. Ebo.

The main objective of the study is to analyze the determinants of health expenditures in ASEAN plus three countries. Specifically, the study aimed to (1) determine the best practices and or health responses made by the ASEAN plus three countries as the COVID-19 pandemic emerge; (2) determine the structure health expenditures in ASEAN plus three countries; (3) determine the trends of health expenditures among ASEAN plus three countries from 2000 to 2020; (4) determine the trends of each variable namely, aging population, total population, unemployment rate, HDI, carbon dioxide emissions and economic growth rate across the ASEAN plus three countries from 2000 to 2020; (5) determine and assess the relationship between the health expenditures and the selected variables namely, aging population, total population, unemployment rate, human development index, carbon dioxide emissions in the ASEAN plus three countries; and (6) determine and examine the relationship between economic growth using the GDP growth rate as an indicator and the total health expenditure among the ASEAN plus three countries. In the study, the data used were gathered from databases of 10 countries of the ASEAN region namely, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, and the plus three countries such as China, Japan, and South Korea covering the period of 2000 to 2020. The indicators used were estimated and examined using the panel data regressions through three panel models namely the Pooled Ordinary Least Square (POLS) regression, Fixed Effects Model (FEM), and Random Effects Model (REM). Different tests such as Wald test, and Hausman test for the model selection and General Least Square (GLS) estimates to correct the diagnostic assumptions: the residual cross-section dependence, heteroscedasticity, and serial correlation were also utilized. Findings on the study showed that the best practices included the maximization of the use of technological advancement, and innovations, reinforcement of public policies and guidelines, healthcare investment (e.g., building facilities; and providing medical supplies, and equipment), investment on extensive research and development, and active, and immediate responses of the government of the countries were highly contributed to mitigate the effects of the COVID-19 pandemic. The health expenditures of ASEAN plus three countries were funded through different sources particularly, the government, the household, the external sources and other domestic private institutions. Generally, health expenditures were increasing from 2000 to 2020. Similarly, aging population, total population, HDI, and carbon dioxide emissions were observed to increase in most of the countries whereas unemployment rates were worked to decline overtime. Statistically, the results showed that the indicators such as aging population, total population, HDI, unemployment rate, and carbon dioxide emissions have a significant relationship to the health expenditures and only HDI and carbon dioxide emissions exerted a negative relationship. Moreover, the total health expenditure was found to have a substantial and negative relationship to economic growth among the ASEAN plus three countries.

Submitted to the University Library 12/20/2022 T-9185