{"title":"Evaluating the Role of GDP Per Capita, Air Pollution and Non-Economic Factors in Determining Health Expenditure: Evidence from Asian Region Using Instrumental Variables Techniques","authors":"Samia Nasreen, Aviral Kumar Tiwari, Mehr-un Nisa, Faryal Ishtiaq","doi":"10.1111/1759-3441.12404","DOIUrl":"10.1111/1759-3441.12404","url":null,"abstract":"<p>This study investigates the effect of income <i>per capita</i>, air pollution and healthcare services on health expenditure in Asian economies using annual data from 1995 to 2018. The determinants of total health expenditure and public and private sector health expenditures are estimated separately. The Generalised Methods of Moment (GMM) and Instrument Variable Quantile Panel Regression (IVQPR) techniques are employed in this study. The results explain that environmental pollution, the price of health care, urbanisation and the number of hospital beds have positive effects on total health expenditures as well as on public and private health expenditures. Interestingly, income <i>per capita</i> has a negative effect on health expenditure at lower quantiles and a positive at higher quantiles. The proportion of the elderly population has an adverse effect on total health expenditure, while life expectancy shows a positive effect at lower quantiles and a negative effect at higher quantiles on health expenditure. The impact of the number of physicians <i>per capita</i> is found to be negative and significant, while the availability of safe drinking water and education demonstrates a positive effect on health expenditure. Out-of-pocket expenditure and technological progress are positively associated with health expenditure. Smoking is a significant determinant of government health expenditure, but it is difficult to determine the trend of smoking prevalence in Asian economies. The outcomes of this study provide some important insights to policymakers, which can be used to design a more efficient healthcare sector in Asian countries.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"43 1","pages":"63-90"},"PeriodicalIF":0.9,"publicationDate":"2023-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135804025","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2023-09-29DOI: 10.1111/1759-3441.12403
Ross Garnaut
{"title":"The Economic Public Interest in a World of Oligopoly*","authors":"Ross Garnaut","doi":"10.1111/1759-3441.12403","DOIUrl":"10.1111/1759-3441.12403","url":null,"abstract":"<p>The Australian economy has performed well compared with comparable countries over the last three decades only if we average the excellent performance in the 1990s and the poor performance over the past decade. Real wages over the past decade have stagnated—to an extent without historical parallel. We cannot understand the economy's underperformance without recognising the increasing claims of economic rents on national income. Correction of weaknesses requires coordination of many policy instruments including measures to reduce the prevalence of rents (competition policy and regulation of oligopoly where competition is not feasible or inefficient) and changes in taxation arrangements to shift the burden of business taxation from firms in competitive activities to firms relying heavily on economic rents.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"43 1","pages":"1-9"},"PeriodicalIF":0.9,"publicationDate":"2023-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1759-3441.12403","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135199079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Learning Losses of Undergraduate Students in South Asia during COVID-19 and its Determinants*","authors":"Farzin Mumtahena, Kaustav Sen, Mahnoor Imran Sayyed, Pasan Wijayawardhana, Roya Zafari, Shrijya Kafle","doi":"10.1111/1759-3441.12402","DOIUrl":"10.1111/1759-3441.12402","url":null,"abstract":"<p>The COVID-19 pandemic has brought about significant changes to the the learning process, prompted by the shift away from traditional physical classrooms to virtual ones. With unequal access to remote learning technologies, there are concerns regarding undergraduate students' academic progress. A primary survey was conducted to create a composite learning score to quantify learning losses. A significantly higher learning loss is visible among students belonging to families facing income losses during the pandemic, and public university students. We find that compared to India, students of Bangladesh and Pakistan are affected more severely in terms of learning losses. The article also measures the extent of psychological distress and academic demotivation related to online learning. We find that the same groups of students face higher psychological distress and academic demotivation.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"42 4","pages":"366-394"},"PeriodicalIF":0.9,"publicationDate":"2023-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116551935","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2023-08-12DOI: 10.1111/1759-3441.12401
Hazwan Haini, Syaza Borhanudin, Pang Wei Loon
{"title":"Digitalisation, Exports, Government Support and Firms' Finances during the COVID-19 Pandemic: Evidence from Central and Eastern Europe*","authors":"Hazwan Haini, Syaza Borhanudin, Pang Wei Loon","doi":"10.1111/1759-3441.12401","DOIUrl":"10.1111/1759-3441.12401","url":null,"abstract":"<p>This study examines whether digital technologies and exporting activities are associated with the likelihood of bankruptcy, liquidity issues and overdue financial obligations during the COVID-19 pandemic. Restrictive measures and lockdowns during the pandemic led to the loss of revenue while incurring costs, resulting in financial issues. Using a sample of 8633 firms from the Central and Eastern economies, we estimate a logistic model and find the following: digitalisation is associated with a decrease in the likelihood of liquidity issues and overdue financial issues; exporting firms experience similar financial outcomes to non-exporting firms; firms that expect or receive government support are associated with an increase in the probability of facing financial issues. Policy implications are discussed.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"42 4","pages":"408-418"},"PeriodicalIF":0.9,"publicationDate":"2023-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124226826","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2023-08-06DOI: 10.1111/1759-3441.12400
Craig Emerson
{"title":"Hope Springs Eternal: Plurilaterals, the WTO and APEC*","authors":"Craig Emerson","doi":"10.1111/1759-3441.12400","DOIUrl":"10.1111/1759-3441.12400","url":null,"abstract":"<p>The rules-based international trading system is under the greatest pressure since its inception in 1948 when the General Agreement on Tariffs and Trade (GATT) came into force. The rules of the GATT's successor, the World Trade Organization (WTO), are being flouted, and the Appellate Body of the dispute-settlement system is no longer functioning. Superpower rivalry is likely to prevent new multilateral trade negotiations leading to substantive agreements. In these circumstances, like-minded countries should begin negotiating plurilateral agreements at the WTO and within APEC.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"42 4","pages":"325-331"},"PeriodicalIF":0.9,"publicationDate":"2023-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1759-3441.12400","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132577064","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2023-07-13DOI: 10.1111/1759-3441.12399
Comlanvi Martin Konou
{"title":"Entrepreneurial Risk and Digital Financial Inclusion: A Cross-Country Analysis","authors":"Comlanvi Martin Konou","doi":"10.1111/1759-3441.12399","DOIUrl":"https://doi.org/10.1111/1759-3441.12399","url":null,"abstract":"<p>The inception of financial technologies (Fintech) has enabled expanded use of financial services. Fintech contributes to financial inclusion and by doing so provides impacts on income inequality, poverty and economic growth. A prospective route of influence exerted by Fintech is to assist economic agents in taking entrepreneurial risks. The purpose of this study was to investigate the impact of digital financial inclusion, as enhanced by FinTech, on entrepreneurial risk. An index for measuring levels of digital financial inclusion was constructed based on variation patterns in several indicators of digital activities. A cross-country model was proposed that relates entrepreneurial risk to digital financial inclusion as well as to a variety of other economic and social factors. Estimation results based on a panel of countries show that digital financial inclusion (0.265), institutional quality (0.169), <i>per capita</i> GDP (0.0456) and education (0.0475) have positive and significant effects on entrepreneurial risk. In contrast, time required to start a business (−0.136) and effective tax rates on capital (−0.494) provide negative and significant effects. In addition, a significant quadratic relationship between entrepreneurial risk and remittances (employee compensation and personal transfers) was found.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"42 3","pages":"267-281"},"PeriodicalIF":0.9,"publicationDate":"2023-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50140411","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2023-06-18DOI: 10.1111/1759-3441.12397
Ayona Bhattacharjee, Jay Dev Dubey
{"title":"Can Employment Empower Women in Rural India*","authors":"Ayona Bhattacharjee, Jay Dev Dubey","doi":"10.1111/1759-3441.12397","DOIUrl":"10.1111/1759-3441.12397","url":null,"abstract":"<p>The literature on women empowerment highlights a positive correlation between work and decision-making power of women within families. On the contrary, the role of work opportunities in letting women achieve greater control over their lives, making them more independent is also well-established. In this background, we explore the effect of women employment on different dimensions of women empowerment by using a nationally representative household survey data, the Indian Human Development Survey (IHDS-II, 2011–12). As “empowerment” is unobservable, multi-faceted and difficult to quantify, we model it by an index which aggregates the qualitative answers provided by a respondent. Due to the presence of an endogenous relation, we exploit sources of exogenous variations in employment through an instrumental variable (IV) setup. Following the literature, we identify IV as the level of transport infrastructure in the region where a woman resides. We find that the estimated coefficients are positive and statistically significant, remaining robust to changes in empowerment calculation. In the context of public initiatives aimed at improving female labour force participation and empowering women in India, our results show how policymakers can look beyond standard policies and take the help of transport-related initiatives to improve employment and empowerment.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"43 1","pages":"34-49"},"PeriodicalIF":0.9,"publicationDate":"2023-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130420612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2023-06-15DOI: 10.1111/1759-3441.12398
Sharadendu Sharma, Yadnesh P. Mundhada, Rahul Arora
{"title":"Which Combination of Trade Provisions Promotes Trade in Value-Added? An Application of Machine Learning to Cross-Country Data","authors":"Sharadendu Sharma, Yadnesh P. Mundhada, Rahul Arora","doi":"10.1111/1759-3441.12398","DOIUrl":"10.1111/1759-3441.12398","url":null,"abstract":"<p>Over time, the trade agreements are witnessing a substantial change in their provisions by encompassing provisions beyond their conventional trade domain, such as labour market regulations, environmental regulations and competition policies. Theoretically, studies argued the role of signing an agreement with deep provisions to promote trade in value-added, but empirical verification in favour of a few is rarely available. The present study attempts to identify this set of provisions included in deep trade agreements (DTAs) that positively impact the bilateral trade in value added. Using the traditional gravity model framework and its estimation through modern econometric and machine learning tools, the study shows that incorporating provisions relating to establishing and preserving economic rights in trade agreements promotes trade in value-added among member countries. Notably, the study found the combination of three main policy areas: technical barriers to trade, competition policy and labour market regulations. Both econometric and machine learning methods confirm the significant impact of these three provisions. Understanding the significance of specific provisions holds relevance in the current scenario where major trading economies are calibrating trade agreements. From the policy perspective, disentangling a set of provisions might be relevant for designing and negotiating trade agreements.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"42 4","pages":"332-346"},"PeriodicalIF":0.9,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129856300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2023-06-08DOI: 10.1111/1759-3441.12395
Alison Preston, Robert E. Wright
{"title":"Financial Literacy and Self-Employment","authors":"Alison Preston, Robert E. Wright","doi":"10.1111/1759-3441.12395","DOIUrl":"https://doi.org/10.1111/1759-3441.12395","url":null,"abstract":"<p>This article uses individual-level data collected in the Household, Income and Labour Dynamics in Australia (HILDA) survey in 2016 to econometrically explore the direction of causation between financial literacy and self-employment. The empirical approach is based on applying instrumental variables (IV) analysis in a three-outcome labour supply model (i.e. self-employment, employee employment and non-employment) that controls for selection into employment. In keeping with a small number of studies, the analysis suggests that there is a positive relationship between financial literacy and self-employment. The analysis also suggests that the likely causal direction is from financial literacy to self-employment. However, this is also found for employee employment. Therefore, policies aimed at increasing financial literacy will likely not only increase self-employment but also employee employment. This suggests that financial literacy may be a form of “general human capital,” such as education, work experience or training. However, the impact of financial literacy on self-employment is not larger (more positive) for self-employment compared to employee employment. Clearly much more research is needed to understand the numerous relationships between financial literacy and other labour market outcomes.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"42 3","pages":"236-266"},"PeriodicalIF":0.9,"publicationDate":"2023-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1759-3441.12395","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50124933","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2023-06-05DOI: 10.1111/1759-3441.12387
Carolyn-Thi Thanh Dung Tran, Brian Dollery, Subba Reddy Yarram
{"title":"The Influence of Administrative Intensity on Efficiency: An Empirical Analysis of Australian Universities","authors":"Carolyn-Thi Thanh Dung Tran, Brian Dollery, Subba Reddy Yarram","doi":"10.1111/1759-3441.12387","DOIUrl":"https://doi.org/10.1111/1759-3441.12387","url":null,"abstract":"<p>While a voluminous empirical literature has investigated university efficiency, much less attention has focused on the impact of administrative intensity on university performance. In this article, we seek to contribute to the empirical literature by examining the relationship between operational efficiency and administrative intensity in the Australian higher education sector over the period 2009/10–2018/19 using a second stage bootstrapping Data Envelopment Analysis (DEA) fractional regression model. We find that administrative intensity positively affects the performance of universities for both the standard and bias-corrected efficiency models. Moreover, administrative intensity exhibits an inverted U-shaped relationship with university efficiency. We also find that administrative intensity has a differential impact on the efficiency of the different types of university. Various public policy implications are considered.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"42 3","pages":"282-305"},"PeriodicalIF":0.9,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1759-3441.12387","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50121865","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}