WORLDWIDE AND REGIONAL COMPARISON OF MACROECONOMIC DETERMINANTS OF HEALTH EXPENDITURES

Abstract

A notab le boost in health expenditure is a serious concern for the world because of the increasing cost of health expenditure. Understanding the factors that cause growth in health expenditure is important. The fundamental target of the current analysis is to investigate the regional and global comparison of macroeconomic determinants of health expenditure. For the empirical analysis, the data was retrieved from the World Bank, covering the time span 2000-201 6. The panel analysis indicates that personal remittances have a dual effect on health expenditure, positive impact on transitional economies, Europe & Central Asia, Middle East & North African and South Asia region while the negative impact on deve loping economies and Sub Saharan Region. In the same way, C0 2 emission has a positive impact on South Asia while negative on worldwide, developed countries, Europe, Central Asia, Middle East, North African, Latin America, the Caribbean and North Ameri ca. In addition, trade openness has a negative impact on health expenditure globa lly including developed countries, M iddle East & North African region.