BackgroundThe main objective of this study is to assess the performance of the global health system, emphasising the contribution of people’s happiness to health system efficiency across countries. Technical efficiency (TE) scores are estimated using the output-oriented variable returns to scale (VRS) data envelopment analysis (DEA) model based on the input measures: health expenditure, labour, hospital beds and education, and the output measures: healthy life expectancy and inverse mortality index. The efficiency scores are regressed against three explanatory variables: happiness index, population density, and healthcare share of gross domestic product (GDP). The analysis involved 121 selected countries using double bootstrap DEA as proposed by Simar, L., Wilson, P.W J Econ 136:1‑34, 2007.ResultsThe bootstrap truncated regression indicates that happiness is one of the factors that contributes significantly to health system efficiency. The study also revealed that the selected health systems perform well, on average, in terms of population density and healthcare share of GDP.ConclusionsIn addition to improving the economic standard of living, policy-makers should also consider ways to increase the happiness and well-being of society. Policies focusing on well-being and happiness can lead to improved well-being and improved health outcomes, which may ultimately reduce the healthcare burden and enhance healthcare performance.Electronic supplementary materialThe online version of this article (10.1186/s13561-018-0214-6) contains supplementary material, which is available to authorized users.
The aim of this article is to examine the income and employment multiplier effects of the higher education sector in Malaysia based on conventional input-output methodology. We examined simple, total, Type I and Type II income and employment multiplier effects of private and public higher education institutions (HEIs) in Malaysia. We found that private HEIs have larger direct and indirect income impacts than public HEIs. With the presence of household spending, both public and private HEIs have greater induced income impacts than direct and indirect income generation effects. We also found that Type I multipliers for private and public HEIs lead to additional income of 1.34 and 1.32 for every initial Ringgit of labour income, respectively, while Type II income multipliers for private and public HEIs account for additional income of 3.09 and 3.05, respectively. Higher education creates 1.21 workers per RM 10,000 investment. The overall results show that private higher education has a relatively greater income effect on the economy.
One of the more significant findings from this study is that ASEAN-5 stock markets do not react as a whole to external shock from these four trading partners. Each stock market in ASEAN-5 responded differently in terms of direction and degree towards the influences of the economic condition in these emerging and developed economies. The ASEAN-5 stock markets were less correlated with economic activities in emerging economies but were more aligned with economic activities in developed economies. In summary, ASEAN-5 stock market cycles were still more dependent on the developed economies' growth rate cycles.
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