The Pervasiveness of Pharmaceutical Expenditure Inertia in the OECD Coutnries  

Oleh:

Okunade, Albert A. ; Suraratdecha, Chutima

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Social Science & Medicine (www.elsevier.com/locate/sosscimed) vol. 63 no. 1 (Jul. 2006), page 225-238.
Topik: oecd; OECD countries; rising pharmaceutical spending; spending insertia; expenditure elasticities; health system policies

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS53.5 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper constructs and estimates an economic model for testing statistically the strength of possible expenditure inertia as a plausible reason for rising drug expenditures of the organization for economic cooperation and development (OEDC) countries. The ethical drugs sector in the OECD health care systems is increasingly targeted as the major culprit in the rising cost. Using multiple regression analysis, and the maximum likelihood estimation method, the data of each country (taken from OECD health data, 1997) were first tested for functional form optimality with the box cox power family transformations model. Drug expenditure elasticities, at datameans, were computed using each country's optimal regression model estimates. The results indicate that the traditionally fitted a priori limited functional form models (e.g. linear, log-log are not globally consistentwith data cross countries) The effect of a one period lagged real per capita drug significant in most countries. Pharmaceutic demands are inelastic, and tend to behave like a necessity, as expected. Since the significant effects of economic, demographic and other drivers of high drug spending differ across countries, country specific implications and policy suggestions for cost controls ought to differ.

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