The Wellness Economy: A Comprehensive System of National Accounts Approach

Rafael Martin M. Consing III (), Michael John M. Barsabal (), Julian Thomas B. Alvarez () and Mahinthan J. Mariasingham ()
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Rafael Martin M. Consing III: Asian Development Bank
Michael John M. Barsabal: Asian Development Bank
Julian Thomas B. Alvarez: Asian Development Bank
Mahinthan J. Mariasingham: Asian Development Bank

No 631, ADB Economics Working Paper Series from Asian Development Bank

Abstract: This paper provides a comprehensive discussion on different, interconnected methods of using the system of national accounts to measure the relevance of a country’s wellness sector to its overall economy. Procedures are discussed for using input–output analysis to derive the production and employment linkages between wellness and nonwellness sectors. We also discuss procedures for using the hypothetical extraction method to derive and decompose the production and employment losses that may arise when a country’s wellness sector is removed from the economy. These procedures are then used to provide estimates for ten countries in developing Asia across two time periods which together provide a proxy for the region (Asia-10), along with a discussion on how these wellness economies have grown and how each one's labor productivity and wellness sector structure have evolved between the two periods.

Keywords: economy; employment; input–output; national accounts; wellness (search for similar items in EconPapers)
JEL-codes: C67 D57 E01 I39 R15 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2020-12-29
New Economics Papers: this item is included in nep-hme, nep-mac and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:adbewp:0631

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