TY - JOUR
T1 - Does Education Mitigate the Effect of Population Aging on Health Expenditure? A Panel Data Study of Latin American Countries
AU - Borrescio-Higa, Florencia
AU - Valenzuela, Patricio
N1 - Publisher Copyright:
© The Author(s) 2021.
PY - 2021/8
Y1 - 2021/8
N2 - Objective: To examine whether the effect of population aging on healthcare expenditures as a share of Gross Domestic Product (GDP) is attenuated in more educated countries. Method: The analysis is based on a dataset of 22 Latin American countries between 1995 and 2013. We estimate panel data models with country and time fixed effects, and control for potential nonlinear effects of population aging on health expenditure. Results: We find population aging increases health expenditure as a share of GDP in economies characterized by low levels of education, but this effect is mitigated in economies with higher levels of education. Results are driven by private health expenditures. Discussion: Results suggest population aging and education have a stronger influence on healthcare expenditures in less developed countries. This finding is important in a context in which the rapid growth of the aging population is likely to lead to significant costs in terms of health expenditures, but less so in more educated societies.
AB - Objective: To examine whether the effect of population aging on healthcare expenditures as a share of Gross Domestic Product (GDP) is attenuated in more educated countries. Method: The analysis is based on a dataset of 22 Latin American countries between 1995 and 2013. We estimate panel data models with country and time fixed effects, and control for potential nonlinear effects of population aging on health expenditure. Results: We find population aging increases health expenditure as a share of GDP in economies characterized by low levels of education, but this effect is mitigated in economies with higher levels of education. Results are driven by private health expenditures. Discussion: Results suggest population aging and education have a stronger influence on healthcare expenditures in less developed countries. This finding is important in a context in which the rapid growth of the aging population is likely to lead to significant costs in terms of health expenditures, but less so in more educated societies.
KW - education
KW - healthcare expenditure
KW - population aging
UR - http://www.scopus.com/inward/record.url?scp=85105492237&partnerID=8YFLogxK
U2 - 10.1177/08982643211002338
DO - 10.1177/08982643211002338
M3 - Article
C2 - 33913783
AN - SCOPUS:85105492237
SN - 0898-2643
VL - 33
SP - 585
EP - 595
JO - Journal of Aging and Health
JF - Journal of Aging and Health
IS - 7-8
ER -