Journal
JOURNAL OF HEALTH ECONOMICS
Volume 19, Issue 4, Pages 461-475Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/S0167-6296(99)00036-3
Keywords
cointegration; health expenditure; heterogeneous dynamic panels; OECD; panel test
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This paper examines stationarity and cointegration of health expenditure and GDP, for a sample of 21 OECD countries using data for the period 1960-1997, by applying a test battery that allows robust inference to he made on the stationarity and cointegration issuer Trend stationarity and no-cointegration are tested using new country-by-country and panel tests, not previously applied in this setting. New results for country-by-country and panel tests of non-stationarity and cointegration are presented. Our unit root and trend stationarity results indicate that both health expenditure and GDP are non-stationary. The no-cointegration and cointegration results indicate that health expenditure and GDP are cointegrated. (C) 2000 Elsevier Science B.V. All rights reserved.
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