The Willingness to Spend on Healthcare: Evidence from Singapore

Lydia L. Gan and James R. Frederick

Review of Applied Economics, 2010, vol. 06, issue 01-2, 15

Abstract: For the past few decades, the household healthcare expenditures have experienced a phenomenal growth in Singapore. This paper seeks to identify the underlying socio-economic factors that contribute towards this phenomenon by employing time series data to examine the household willingness to spend on healthcare from 1970 to 2006. The results from our log-linear regression show that the willingness to spend on healthcare is positively related to the proportion of Singapore's population who are elderly, the literacy rate, the ratio of price of other goods and services to the price of healthcare, and the establishment of Singapore's mandatory health savings plan, Medisave. In terms of their effects on the growth of Singapore's willingness to spend on healthcare, the most important factors are the ageing of the population and the increase in the literacy rate.

Keywords: Consumer/Household Economics; Demand and Price Analysis; Health Economics and Policy; Marketing (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://ageconsearch.umn.edu/record/143266/files/2-Lydia%20L%20Gan.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:reapec:143266

DOI: 10.22004/ag.econ.143266

Access Statistics for this article

More articles in Review of Applied Economics from Lincoln University, Department of Financial and Business Systems Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().