Public Health Effect of Financial Crisis and Governance: Evidence from Asian Countries
Journal Title: INTERNATIONAL JOURNAL OF SCIENTIFIC STUDY - Year 2018, Vol 6, Issue 9
Abstract
Background : Over the past three decades, international financial turmoil led to severe losses. The backlash of this financial instability has affected developed and developing countries around the world. Increased unemployment, loss of income and increased vulnerability have been among the dominant social impacts of the crisis. This paper aims to investigate the effects of financial crisis and governance on health care using a panel data of 35 Asian countries over the period 1996–2016. Method: The empirical analysis is carried out using the generalized method of moments estimator to deal with potential endogeneity of the explanatory variables. Results: Findings show that there is a strongly negative relationship between financial crisis and health on the one hand, and a positive relationship between governance indicators and health on the other hand. Moreover, the direct and negative effects of financial shocks on health may be reduced by the indirect and positive effects through good governance and institutions. Conclusions: This indicates that the financial crisis impacts health and the magnitude of the effects could be reduced through the presence of good governance and institutional interventions. These empirical insights are of particular interest to policymakers as they help identify causes of financial crises and to develop a sound financial system able to resist to external chocks. Policymakers should also regulate and enhance the role and efficiency of domestic institutions.
Authors and Affiliations
Raouf Jaziri, Saleh Alnahdi
Keywords
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