Determinants of China’s health expenditure growth: based on Baumol’s cost disease theory

Background During the past four decades, China’s total health expenditure and health expenditure per capita have both experienced a dramatic increase in growth rate. This study aims to explore the determinants of health expenditure growth and the influencing mechanism of these determinants, with considering the productivity efficiency represented by Baumol’s cost disease. Methods Based on the longitudinal data of 30 provincial-level administrative regions in China, from 2010 to 2017, multi-variates regression models were constructed to assess the determinants, including demography, income, Baumol’s cost disease, technology, their effects on per capital total health expenditure growth and the three financing sources: government, society and out-of-pocket health expenditure. Moreover, the Spatial Durbin Model was used to analyze the influence mechanism of determinants on the increase of health expenditure across provinces. Results Among 210 province-year growth rate observations, all of the average growth rate of total health expenditure (12.78%) was much higher than the growth rate of per capita GDP (8.06%). According to the statistical analysis, we found that:(1) Income and Baumol’s cost disease have a significant positive impact on health expenditure growth(P < 0.01). The impact of technical factors on government health expenditure is significantly positive. (2) The determinants affected the growth of health costs in different regions variably; the eastern region is mainly driven by Baumol’s cost disease and technical factors, while the central and western regions are mainly affected by income factors and Baumol’s cost disease. (3) There is a significant spatial spillover effect on the health expenditure growth between regions. The income factor and Baumol’s cost disease have a positive impact on the health expenditure growth in its own region as well as in other regions. Conclusions Income and Baumol’s cost disease significantly contributed to China health expenditure growth. The health expenditure determinants showed spatial varies effect and space spillover effect on the neighborhood areas. Which indicates that a reasonable salary system should be contrasted to meet the changeling from the Baumol’s cost disease, and the necessity of equity in health resource allocation among provinces in China.

PERBANDINGAN KINERJA KEUANGAN PEMERINTAH KOTA LANGSA DENGAN PEMERINTAH KABUPATEN ACEH TIMUR

The purpose of this study was to analyze the comparison of the financial performance of the Langsa City government and East Aceh Regency. Financial performance is measured using five indicators, namely efficiency ratios, effectiveness ratios, compatibility ratios, growth ratios and radiant ratios. The results of the study stated that the financial efficiency ratio of Langsa City during the observation period was more efficient than that of East Aceh Regency. The financial effectiveness ratio of East Aceh Regency during the observation period was more effective than that of Langsa City. The Conformity Ratio measured by the value of the ratio of operating expenditures shows that Langsa City is high when compared to East Aceh District, the APBD and PAD growth ratios of the two regions are both in positive values. The operating expenditure growth ratio of Langsa City is better because it shows a lower ratio value compared to East Aceh District and the operating expenditure growth ratio of East Aceh Regency during the observation period is on average higher. This is evidenced by the value of the ratio of operating expenditures in East Aceh Regency on average each year above 10%. East Aceh District is more capable of self-financing government activities than Langsa City. The pattern of self-reliance is in the consultative and participatory categories. The value of the regional financial independence ratio of Langsa City is in the Instructive relationship pattern (Langsa City is not able to implement regional autonomy financially).

On the Network Transmission Mechanisms of Disease-Specific Healthcare Expenditure Spillovers: Evidence from the Connectedness Network Analyses

Previous studies investigating factors influencing healthcare expenditure growth ignored the network transmission mechanisms of disease-specific healthcare expenditure spillovers and regarded the processes culminating in healthcare expenditure growth as a black box. In this study, we investigated factors influencing the network transmission mechanisms underlying the determinants of healthcare expenditure growth through the dynamic connectedness network and the robust least square regression analyses. Our results indicate that demographic transition and business cycles are key factors increasing interconnectedness of different disease-specific healthcare expenditures, and that promotion of primary care utilization would reduce total healthcare expenditure spillovers. In order to reduce diffusion of disease-specific healthcare expenditures, health promotion activities should focus on those clinical diagnosis-related groups of diseases classified as pure net transmitters of spillover, and preventive interventions targeting different diseases should be activated in different phrases of the business cycle.

Determinants of China's Health Expenditure Growth: Based on Baumol’s Cost Disease Theory

Background During the past four decades, China's total health expenditure and health expenditure per capita have both experienced a dramatically increase in growth rate. It is essential to understand the driven force of this growth with the new economic context. This study aims to explore the determinants of health expenditure growth and the influencing mechanism of these determinants, with considering the productivity efficiency represented by Baumol's cost disease. Methods Based on the longitudinal data of 30 provincial-level administrative regions in China, from 2010 to 2017, multi-variates regression models were constructed to assess the determinants, including demography, income, Baumol's cost disease, technology, their effects on per capital total health expenditure growth and the three financing sources: government, society and out-of-pocket health expenditure. Moreover, the Spatial Durbin Model was used to analyze the influence mechanism of each factor on the increase of health expenditure across provinces.Results Among 210 province-year observations, all of the average growth rate of total health expenditure (12.78%) was much higher than the growth rate of per capita real GDP (8.06%). According to the statistical analysis, we found that:(1) Income and Baumol’s cost disease have significant positive impact on health expenditure growth(P<0.01). The impact of technical factors on government health expenditure is significantly positive. (2) The determinants affected the growth of health costs in different regions variably, the eastern region is mainly driven by Baumol's cost disease and technical factors, while the central and western regions are mainly affected by income factors and Baumol's cost disease. (3) There is a significant spatial spillover effect on the health expenditure growth between regions. The income factor and Baumol’s cost disease have a positive impact on the health expenditure growth in its own region as well as in other regions.Conclusions Income and Baumol's cost disease significantly contributed to China health expenditure increase growth. The health expenditure determinants showed spatial varies effect and space spillover effect on the neighborhood areas. Which indicates that a reasonable salary system should be contrasted to meet the changeling from the Baumol's cost disease, and the necessary of equity in health resource allocation among provinces in China.

Monetary policy effectiveness in the liquidity trap: a switching regimes approach

Liquidity trap economics seems to have fared particularly well on all counts of its predictions, in the aftermath of the 2008 global financial crisis. Therefore, in this paper we evaluate formally the effectiveness of unconventional monetary policy in a liquidity trap, based on data from Japan, the USA, and the eurozone over periods of liquidity trap conditions (1994–2018 for Japan and 2009–2018 for the USA and the eurozone). Under effective unconventional policies, changes in the base money-growth regime should be associated with similar regime changes in either inflation or investment expenditure growth and the estimation of a switching regimes model allows us to test whether significant joint regime shifts occur in the data. Also, a test of liquidity trap conditions is based on a discrepancy of regime shifts between growth rates of base money and broad money, since this implies a collapse of the money multiplier. Our findings show that drastic shifts in the growth rate of the monetary base do not produce similar behavior for the inflation rate, investment expenditure growth, and broad money growth, thus pointing to liquidity trap conditions and unconventional monetary policy ineffectiveness.

THE CHAOTIC GROWTH MODEL: INTERNATIONAL TOURISM

The basic aims of this paper are: firstly, to create a relatively simple chaotic international tourism expenditure growth model that is capable of generating stable equilibria, cycles, or chaos; and secondly, to set up a relatively simple chaotic international tourism receipts growth model. This paper confirms stable growth of the international tourism receipts and expenditures in high-income countries, low & middle-income countries, lower-middle-income countries, middle-income countries, and upper-middle-income countries in the period 1995-2018.

Analisis Rasio Keuangan untuk Menilai Kinerja Keuangan Pemerintah Kabupaten Karanganyar

This study aims to determine the financial performance of the Karanganyar Regency Government Budget Year 2015-2017 seen from: Analysis of Regional Income Variance, Analysis of Regional Income Growth, Decentralization Degree Ratio, Regional Finance Dependency Ratio, Regional Financial Independence Ratio, Analysis of Regional Expenditure Variance, Analysis of Regional Expenditure Growth, Regional Expenditure Suitability Ratio, Regional Expenditure Efficiency Ratio, and Value For Money Concepts. This research is a qualitative descriptive study. The technique of collecting data used in this study is documentation techniques. The data used is Secondary Data in the form of the Karanganyar Regency Government Budget Realization Report 2015-2017. The results showed that the financial performance of the Karanganyar Regency Government was generally said to be good. This can be seen from: (1) Analysis of Regional Income Variance which shows the number 100.86% (2) Analysis of Regional Income Growth which shows a positive growth of 7.82% (3) Decentralization Degree Ratio which shows 16.50% ( 4) Regional Finance Dependency Ratio which shows 83.17% (5) Regional Financial Independence Ratio which shows the number 19.84% (6) Analysis of Regional Expenditure Variance below 100% on average (7) Analysis of Regional Expenditure Growth with an average 3.76% (8) Regional Expenditure Suitability Ratio The Karanganyar District Government allocates a large portion of its expenditure budget for operating expenditure, which averages 76.92%, while for capital expenditure 16.01% (9) Regional Expenditure Efficiency Ratio which shows the number 89.08% (10) Value For Money concept which shows that the realization of regional income exceeds the amount of the regional income budget. However, the degree of decentralization is still low and the level of financial dependence on the central government and regional government is still high.

Determinants of Corporate Cash Holdings in Hospitality Sector of France, Spain and United States of America

This study determines the effect of parameters used for cash holding in hospitality sector (HS) of target countries i-e France, Spain and United State of America for the period of 14 years (2005-2018). The parameters consist of firm size, leverage, capital expenditure, growth opportunity, liquidity, cash flow, cash flow volatility, asset intangibility, dividend payments and stock exchange. Dynamic panel data is employed for empirical estimation i-e Generalized Method of Moments (GMM). System GMM model estimation reveals that leverage, cash flow volatility and asset intangibility influence cash holdings positively while size, capital expenditure, growth opportunities and cash flow affect cash holdings negatively.