European Business Schools Librarian's Group
SSE/EFI Working Paper Series in Economics and Finance,
Stockholm School of Economics
No 258: International Health Expenditure and GDP: New Multivariate Cointegration Panel Data Results
Ulf-G. Gerdtham () and Mickael Löthgren ()
Additional contact information
Ulf-G. Gerdtham: Centre for Health Economics, Postal: Stockholm School of Economics, P.O. Box 6501, S-113 83 Stockholm, Sweden
Mickael Löthgren: Dept. of Economic Statistics, Stockholm School of Economics, Postal: Stockholm School of Economics, P.O. Box 6501, S-113 83 Stockholm, Sweden
Abstract: In this paper we test for existence of cointegration between health expenditure and GDP using data from 19 OECD countries for the period 1960-1995. Country-by-country and panel results based on the Johansen multivariate likelihood-based inference and a new panel test for cointegration rank are presented. The empirical modelling is based on a bivariate vector error correction model that allows for trending data as well as an intercept and a trend in the cointegrating relation. Given this model, the main result indicates that a cointegrating relation exists between health expenditure and GDP.
Keywords: Cointegration; Heterogeneous dynamic panels; Maximum likelihood
13 pages, September 21, 1998
Questions (including download problems) about the papers in this series should be directed to Helena Lundin ()
Report other problems with accessing this service to Sune Karlsson ().
RePEc:hhs:hastef:0258This page generated on 2024-09-13 22:19:41.