EFFECTS OF FINANCIAL INCLUSION AND OUT OF POCKETS COST ON HUMAN HEALTH (1990 - 2020)

This study examined the dynamic relationship amongst financial inclusion, out of pocket expenditure and health outcome proxied by life expectancy. This was with the view to investigate the effects of financial inclusion and out-of-pocket medical expenses on health outcomes as well as the causal conn...

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Published inStudia Universitatis Babeș-Bolyai. Oeconomica Vol. 69; no. 1; pp. 21 - 36
Main Authors Akintunde, Temitope Sade, Oladimeji, Ifeade Adetutu, Aribatise, Adekunle
Format Journal Article
LanguageEnglish
Published Cluj-Napoca Studia Universitatis Babes-Bolyai 01.04.2024
Sciendo
Babes-Bolyai University, STUDIA UNIVERSITATIS BABES-BOLYAI
Subjects
ARDL
Bidirectionality
Births
Causality
Cultural heritage
Financial inclusion
Financial institutions
Financial Markets
Financial services
G21
GDP
Gross Domestic Product
H51
Health care expenditures
Health care policy
Health status
Households
Human capital
I31
Infant mortality
Life expectancy
Literature reviews
Mental health
Out of pocket costs
Out-of-pocket expenditure
pairwise granger causality
Personal expenditure
Public Finances
Time series
Nigeria
United States > US
life expectancy
pairwise granger causality
Outofpocket expenditure
Financial inclusion
ARDL
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Summary:This study examined the dynamic relationship amongst financial inclusion, out of pocket expenditure and health outcome proxied by life expectancy. This was with the view to investigate the effects of financial inclusion and out-of-pocket medical expenses on health outcomes as well as the causal connections between various variables in Nigeria. Time series data from 1990 through 2020 were analysed using Autoregressive Distributed Lag (ARDL) and pairwise granger causality as the estimation technique. The study found a positive relationship between financial inclusion and health outcomes and there was a bidirectional causal relationship between financial inclusion and life expectancy and a unidirectional causal relationship running from out-of-pocket expenditure to life expectancy at 5% significance level and vice versa. The study also revealed that financial inclusion had a positive and significant effect on life expectancy in Nigeria. Also, out of pocket expenditure had revealed not to be statistically significant on life expectancy in the long-run.
ISSN:2065-9644
1220-0506
2065-9644
DOI:10.2478/subboec-2024-0002