Long Term Health Spending Alongside Population Aging in N-11 Emerging Nations

Nemanja Rancic () and Mihajlo (Michael) Jakovljevic
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Nemanja Rancic: Defense University of Belgrade

Eastern European Business and Economics Journal, 2016, vol. 2, issue 1, 2-26

Abstract: The rise of “emerging markets” is one of the key changes that is causing the global economic situation to unravel. The Next Eleven (Next-11) countries are known as the second-tier group of “emerging economies” behind the BRICS. Regardless of their diverse socio-geographical characteristics, the Next-11 countries have similarities pointing out to their high economic potential. The paper presents long-term differentials of accelerated population aging and corresponding health expenditure in the Next-11 nations from 1995 to 2013. An increase in the proportion of the elderly population, coupled with falling fertility rates, led the Next-11 countries to increase health care expenditures. Total health spending, expressed as a percentage of gross domestic products, gives clear evidence of growth. Private expenditure on health has been undergoing constant increases in recent years, driven primarily by out-of-pocket spending. Regardless of different health care financing mechanisms, all Next-11 health systems appear to withstand a heavy burden of an aging population, threatening their fiscal sustainability in the upcoming decades.

Keywords: Next-Eleven countries; Health care expenditure; Medical Spending; Population Aging; N-11; Emerging Markets; Trend analysis (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (3)

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