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Impact of Coronavirus Disease COVID-19 on the Relationship between Healthcare Expenditures and Sustainable Economic Growth

cris.lastimport.scopus2024-09-18T01:31:29Z
dc.abstract.enThe coronavirus disease (COVID-19) pandemic led to a catastrophic burden on the healthcare system and increased expenditures for the supporting medical infrastructure. It also had dramatic socioeconomic consequences. The purpose of this study is to identify the empirical patterns of healthcare expenditures’ influence on sustainable economic growth in the pandemic and pre-pandemic periods. Fulfilment of the research task involves the implementation of two empirical blocks: (1) development of a Sustainable Economic Growth Index based on public health, environmental, social, and economic indicators using principal component analysis, ranking, Fishburne approach, and additive convolution; (2) modelling the impact of different kinds of healthcare expenditures (current, capital, general government, private, out-of-pocket) on the index using panel data regression modelling (random-effects GLS regression). Regression results in the pre-pandemic period show that the growth of capital, government, and private healthcare expenditures positively influence sustainable economic growth. In 2020–2021, healthcare expenditures did not statistically significantly influence sustainable economic growth. Consequently, more stable conditions allowed capital healthcare expenditures to boost economic growth, while an excessive healthcare expenditure burden damaged economic stability during the COVID-19 pandemic. In the pre-pandemic period, public and private healthcare expenditures ensured sustainable economic growth; out-of-pocket healthcare expenditures dominantly contributed to the pandemic period.
dc.affiliationAdministracji i Nauk Społecznych
dc.contributor.authorAlina Vysochyna
dc.contributor.authorTetiana Vasylieva
dc.contributor.authorOleksandr Dluhopolskyi
dc.contributor.authorMarcin Marczuk
dc.contributor.authorDymytrii Grytsyshen
dc.contributor.authorVitaliy Yunger
dc.contributor.authorAgnieszka Sulimierska
dc.date.accessioned2024-04-09T11:34:53Z
dc.date.available2024-04-09T11:34:53Z
dc.date.issued2023
dc.description.abstract<jats:p>The coronavirus disease (COVID-19) pandemic led to a catastrophic burden on the healthcare system and increased expenditures for the supporting medical infrastructure. It also had dramatic socioeconomic consequences. The purpose of this study is to identify the empirical patterns of healthcare expenditures’ influence on sustainable economic growth in the pandemic and pre-pandemic periods. Fulfilment of the research task involves the implementation of two empirical blocks: (1) development of a Sustainable Economic Growth Index based on public health, environmental, social, and economic indicators using principal component analysis, ranking, Fishburne approach, and additive convolution; (2) modelling the impact of different kinds of healthcare expenditures (current, capital, general government, private, out-of-pocket) on the index using panel data regression modelling (random-effects GLS regression). Regression results in the pre-pandemic period show that the growth of capital, government, and private healthcare expenditures positively influence sustainable economic growth. In 2020–2021, healthcare expenditures did not statistically significantly influence sustainable economic growth. Consequently, more stable conditions allowed capital healthcare expenditures to boost economic growth, while an excessive healthcare expenditure burden damaged economic stability during the COVID-19 pandemic. In the pre-pandemic period, public and private healthcare expenditures ensured sustainable economic growth; out-of-pocket healthcare expenditures dominantly contributed to the pandemic period.</jats:p>
dc.identifier.doi10.3390/ijerph20043049
dc.identifier.issn1660-4601
dc.identifier.urihttps://repo.akademiawsei.eu/handle/item/173
dc.languageen
dc.pbn.affiliationeconomics and finance
dc.relation.ispartofInternational Journal of Environmental Research and Public Health
dc.rightsCC-BY
dc.subject.encoronavirus disease
dc.subject.enCOVID-19
dc.subject.enhealthcare expenditure
dc.subject.enpandemic
dc.subject.ensustainable economic growth
dc.subject.ensustainable development
dc.titleImpact of Coronavirus Disease COVID-19 on the Relationship between Healthcare Expenditures and Sustainable Economic Growth
dc.typeReviewArticle
dspace.entity.typePublication
oaire.citation.issue4
oaire.citation.volume20