Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2018.1429943
The impacts of life insurance asymmetrically on health expenditure and economic growth: dynamic panel threshold approach
Kuan-Min Wang
; Department of Finance, Overseas Chinese University, Taichung, Taiwan
Yuan-Ming Lee
; Department of Finance, Southern Taiwan University of Science and Technology, Tainan City, Taiwan
Sažetak
This study examines the impacts of life insurance asymmetrically on
health expenditure and economic growth. Using the dynamic panel
threshold model, we find that life insurance growth has a regime switch
factor that may change the relationship between health expenditure
growth and economic growth. Our results show that the asymmetrical
information of life insurance growth affects the causal relationship
between health expenditure growth and economic growth. In a low
life insurance growth regime, the negative growth of life insurance
can stimulate health expenditure and economic growth, which can
have a positive feedback effect. However, in the interval of high life
insurance growth, the growth does not affect health expenditure
or economic growth; there is an adverse feedback effect between
economic growth and health expenditure growth, whereby economic
growth stimulates health expenditure growth, but health expenditure
growth reduces economic growth.
Ključne riječi
Life insurance; asymmetrical effect; health expenditure; economic growth; dynamic panel threshold model
Hrčak ID:
200682
URI
Datum izdavanja:
3.12.2018.
Posjeta: 1.060 *