The Willingness to Spend on Healthcare: Evidence from Singapore

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.


Issue Date:
2010-04
Publication Type:
Journal Article
Record Identifier:
http://ageconsearch.umn.edu/record/143266
PURL Identifier:
http://purl.umn.edu/143266
Published in:
Review of Applied Economics, Volume 06, Number 1-2
Page range:
13-27
Total Pages:
15
JEL Codes:
I11; D12; R22
Series Statement:
Vol.6
No.1-2




 Record created 2017-04-01, last modified 2018-01-22

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)