Health effects of financial crises: the cae of the Philippines
Date
2013-10
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Abstract
The 1997 Asian financial crisis and the 2008 global economic crisis left countries with high unemployment, budget deficits, decelerated growth, among other negative impacts. According to most literature, the health sector was also affected by the crisis with the decreases on health expenditures because of less revenues and increasing rates of diseases. In order to check the effect on health of both crises in the Philippine setting, we conducted an OLS regression analysis on the impact of the crises on the morbidity rate of diseases in the country. The results showed that while some diseases increase in the presence of a crisis, others also exhibit a downward trend contrary to general literature. This effect was also apparent in some countries, like a study done in Cuba.
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Keywords
Health, Financial Crisis, Philippines