Real GDP growth rates and healthcare spending – comparison between the G7 and the EM7 countries

Abstract

Background: Accelerated globalisation has substantially contributed to the rise of emerging markets worldwide. The G7 and Emerging Markets Seven (EM7) behaved in significantly different macroeconomic ways before, during, and after the 2008 Global Crisis. Average real GDP growth rates remained substantially higher among the EM7, while unemployment rates changed their patterns after the crisis. Since 2017, however, approximately one half of the worldwide economic growth is attributable to the EM7, and only a quarter to the G7. This paper aims to analyse the association between the health spending and real GDP growth in the G7 and the EM7 countries. Results: In terms of GDP growth, the EM7 exhibited a higher degree of resilience during the 2008 crisis, compared to the G7. Unemployment in the G7 nations was rising significantly, compared to pre-recession levels, but, in the EM7, it remained traditionally high. In the G7, the austerity (measured as a percentage of GDP) significantly decreased the public health expenditure, even more so than in the EM7. Out-of-pocket health expenditure grew at a far more concerning pace in the EM7 compared to the G7 during the crisis, exposing the vulnerability of households living close to the poverty line. Regression analysis demonstrated that, in the G7, real GDP growth had a positive impact on out-of-pocket expenditure, measured as a percentage of current health expenditure, expressed as a percentage of GDP (CHE). In the EM7, it negatively affected CHE, CHE per capita, and out-of-pocket expenditure per capita. Conclusion: The EM7 countries demonstrated stronger endurance, withstanding the consequences of the crisis as compared to the G7 economies. Evidence of this was most visible in real growth and unemployment rates, before, during and after the crisis. It influenced health spending patterns in both groups, although they tended to diverge instead of converge in several important areas.

Rapid Assessment of Price Instability and Paucity of Medicines and Protection for COVID-19 Across Asia: Findings and Public Health Implications for the Future

“…In addition, there have been recent initiatives in India to control the prices of essential medicines as well as encourage the use of generic medicines where possible (79,80). Alongside this convergence of healthcare spending toward OECD average spending levels with movement toward universal healthcare in the coming years although affordability of care for the poor will remain a continuing challenge (81)(82)(83)(84).…”

The Expiry of Humira® Market Exclusivity and the Entry of Adalimumab Biosimilars in Europe: An Overview of Pricing and National Policy Measures

“…In addition, enhance the opportunity for greater access to effective biological medicines among Central and Eastern European (CEE) countries as well as other lower- and middle-income countries where access has been an issue due to high prices, sustainability of healthcare systems, and high co-payment levels ( Mihajlo, 2014 ; Putrik et al, 2014 ; Jakovljevic et al, 2015 ; Kovacevic et al, 2015 ; Pichon-Riviere et al, 2015 ; Baumgart et al, 2019 ). We are aware that expenditure on healthcare has been rising steadily among middle-income countries including the BRICS (Brazil, Russia India, China and South Africa), with growth rates exceeding those among high income countries in recent years ( Jakovljevic, 2016 ; Jakovljevic and Getzen, 2016 ; Jakovljevic et al, 2020 ), with a similar difference seen between CEE and Western European countries ( Jakovljevic et al, 2016 ). However, there are continuing concerns with high co-payment levels, and reimbursement issues with high prices, among BRICS and other similar countries, which will adversely impact on the access and use of biologicals unless their costs appreciably fall ( Jakovljevic et al, 2017 ; Kastor and Mohanty, 2018 ; Jakovljevic et al, 2019 ; Jakovljevic et al, 2019 ; Jakovljevic et al, 2020 ).…”

“…We are aware that expenditure on healthcare has been rising steadily among middle-income countries including the BRICS (Brazil, Russia India, China and South Africa), with growth rates exceeding those among high income countries in recent years ( Jakovljevic, 2016 ; Jakovljevic and Getzen, 2016 ; Jakovljevic et al, 2020 ), with a similar difference seen between CEE and Western European countries ( Jakovljevic et al, 2016 ). However, there are continuing concerns with high co-payment levels, and reimbursement issues with high prices, among BRICS and other similar countries, which will adversely impact on the access and use of biologicals unless their costs appreciably fall ( Jakovljevic et al, 2017 ; Kastor and Mohanty, 2018 ; Jakovljevic et al, 2019 ; Jakovljevic et al, 2019 ; Jakovljevic et al, 2020 ).…”

Vancomycin-Resistant Enterococci (VRE) in Nigeria: The First Systematic Review and Meta-Analysis

“…This high prevalence could be as a result of various risk factors such as contact with VRE patients, infected animals, surfaces and objects, underlying conditions, serious illness, prior hospitalization, use of catheters, and improper antibiotic usage [ 45 ]. Camins et al [ 46 ] stated that health care contacts were the likely source of VRE colonization and infection, and this is plausible in situations where infection control knowledge, attitudes, and practices among healthcare workers, farmworkers, and the general population are poor in third-world countries [ 47 , 48 , 49 , 50 ] and Nigeria [ 26 ]. The antimicrobial susceptibility testing mainly relied on the disc diffusion method and was interpreted according to the Clinical and Laboratory Standard Institute (CLSI) guideline.…”