Title: Healthcare expenditure analysis in the context of ageing population in economic community of West African state (ECOWAS)

Authors: Micheal Okike Ugwu; Umunna Godson Nwagu; Henry Onoriode

Addresses: Department of Economics, University of Nigeria, Nsukka, Nigeria ' Department of Economics, University of Nigeria, Nsukka, Nigeria ' Department of Economics, College of Education, Mosogar, Delta State, Nigeria

Abstract: As people age, they are more likely to develop chronic diseases that require expensive treatment. The aim of this study is to examine healthcare expenditure in the ECOWAS region from 2000 to 2022, with a particular focus on the impact of an ageing population using a panel estimate. Furthermore, the Johansen Fisher Panel Co-integration Test indicated that there is co-integration among the variables. The study also finds a correlation between these variables. Using fixed effect regression, the findings demonstrate that total government health expenditure has a negative and significant impact on the ageing population, while current healthcare expenditure per capita, gross domestic product per capital and out-of-pocket spending have a positive and significant influence on the ageing population in ECOWAS. Based on these findings, the study recommends that governments in the ECOWAS region increase healthcare spending for the elderly to improve healthcare services.

Keywords: healthcare expenditure; ageing population; chronic diseases; panel analysis; fixed effect; current healthcare expenditure; government health expenditure; out-of-pocket; per capital GDP; ECOWAS region.

DOI: 10.1504/IJBHR.2024.144275

International Journal of Behavioural and Healthcare Research, 2024 Vol.9 No.3/4, pp.219 - 234

Received: 26 Mar 2024
Accepted: 13 Sep 2024
Published online: 04 Feb 2025 *

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