Volume 3, Issue 2 (8-2020)
Iran J Health Insur 2020, 3(2): 104-115 |
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Shamsoddini M, Hormoz B. Investigating the Effect of Financial Reform Policies on Health Insurance Development in Developing Countries. Iran J Health Insur 2020; 3 (2) :104-115
URL: http://journal.ihio.gov.ir/article-1-138-en.html
URL: http://journal.ihio.gov.ir/article-1-138-en.html
1- Department of Accounting and Economics, Faculty of Management and Accounting, University of Hormozgan, Bandar Abbas, Iran , m.shamsoddini@hormozgan.ac.ir
2- Iranshahr Branch, Payame Noor University, Zahedan, Iran
2- Iranshahr Branch, Payame Noor University, Zahedan, Iran
Abstract: (2659 Views)
Introduction: Health insurance is one of the health requirements that is being considered by governments in most developed and developing countries. Since the insurance industry is one of the most important components of financial system, it is necessary to investigate the effect of financial reform policies on development of this industry, especially health insurance development.
Methods: This study, investigate how financial reform policies, including the overall financial reform index, and also the sub-indicators of interest rate control, privatization, entry barriers, capital market liberalization and securities market policies, affect the health insurance development for 30 selected developing countries during 2000-2018. This research is a practical and quantitative study that has been performed using dynamic panel estimation using Generalized Method of Moments.
Result: The results of this study show financial reforms can lead to development of health insurance in developing countries, however, the interactive results show increasing economic development level can increase this effect. Sub-indicators of entry barriers reduction and privatization in the basic and interactive models have a dominant, positive and significant effect on the health insurance development. The capital flow liberalization is significant in the basic model but is not significant under the influence of economic development and expansion of financial markets; also, the securities market policies has no significant effect on health insurance development in developing countries. The interest rate control has a significant relationship with health insurance development in a market-based system only.
Conclusion: As a general conclusion from this study, it can be stated that high government intervention in developing countries is one of the deterrents to financial systems and their impact on insurance sector. The results of this study showed that most financial reform policies, independently or under the influence of conditional variables, have a positive effect on health insurance development, therefore, developing countries can consider implementing these policies as a medium-term solution to improve public health and develop health insurance.
Methods: This study, investigate how financial reform policies, including the overall financial reform index, and also the sub-indicators of interest rate control, privatization, entry barriers, capital market liberalization and securities market policies, affect the health insurance development for 30 selected developing countries during 2000-2018. This research is a practical and quantitative study that has been performed using dynamic panel estimation using Generalized Method of Moments.
Result: The results of this study show financial reforms can lead to development of health insurance in developing countries, however, the interactive results show increasing economic development level can increase this effect. Sub-indicators of entry barriers reduction and privatization in the basic and interactive models have a dominant, positive and significant effect on the health insurance development. The capital flow liberalization is significant in the basic model but is not significant under the influence of economic development and expansion of financial markets; also, the securities market policies has no significant effect on health insurance development in developing countries. The interest rate control has a significant relationship with health insurance development in a market-based system only.
Conclusion: As a general conclusion from this study, it can be stated that high government intervention in developing countries is one of the deterrents to financial systems and their impact on insurance sector. The results of this study showed that most financial reform policies, independently or under the influence of conditional variables, have a positive effect on health insurance development, therefore, developing countries can consider implementing these policies as a medium-term solution to improve public health and develop health insurance.
Type of Study: Research |
Subject:
Special
Received: 2020/05/10 | Revised: 2020/09/19 | Accepted: 2020/08/19 | ePublished: 2020/09/19
Received: 2020/05/10 | Revised: 2020/09/19 | Accepted: 2020/08/19 | ePublished: 2020/09/19
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