The impact of financial development, health expenditure, CO2 emissions, institutional quality, and energy Mix on life expectancy in Eastern Europe: CS-ARDL and quantile regression Approaches

Heliyon · 6 authors, 3 centres

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TL;DR

It investigates the long-term and short-term relationships between life expectancy and several macroeconomic and environmental factors.

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It investigates the long-term and short-term relationships between life expectancy and several macroeconomic and environmental factors. The CS-ARDL results show a statistically significant positive long-run association for health expenditure, institutional quality, and renewable energy consumption. A significant negative long-run association was found for CO2 emissions and fossil fuel consumption. Quantile regression results largely corroborated these associations across different distributional quantiles. The findings suggest that policies aimed at improving health outcomes in the region may benefit from increased health spending, stronger institutions, a shift toward renewable energy, and measures to reduce carbon emissions and fossil fuel use.

STUDY TYPE

other

SPECIALTY

epidemiology

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AI pipeline

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100% · A

ORIGINAL PAPER

PMC10651455

The impact of financial development, health expenditure, CO2 emissions, institutional quality, and energy Mix on life expectancy in Eastern Europe: CS-ARDL and quantile regression Approaches

Heliyon

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ABSTRACT

Abstract In recent years, the interrelationships between the environment, energy, and health have received a growing amount of attention due to their substantial impact on the health of humans. By examining what influences Eastern Europeans' longevity between 1990 and 2021, this study hopes to contribute to this field of study. Energy consumption, health expenditure, pollution, institutional quality index (IQI), financial development, and other attributes profoundly impact human health. Because of the extensive network of commerce, tourism, education, religion, and treaties connecting East European countries, tests for cross-sectional dependence (CSD) and slope heterogeneity (SH) are utilized. After verifying the CSD and SH issues, the study uses the second generation's unit root and cointegration tests. As the previous test indicates, a new panel method, the cross-sectional autoregressive distributive lag (CS-ARDL) model, is required, as conventional estimations are inappropriate. The Quantile Regression (QR) method is also applied to check robustness. This study indicated that increased health expenditure, renewable energy consumption, and IQI improves health outcomes in Eastern European nations. There was a good connection between renewable energy consumption and health benefits, the study concluded. Though financial development positively impacts life expectancy, the impact is insignificant. On the other hand, the study also shows that CO 2 emissions and fossil fuel consumption decrease life expectancy. These results are consistent with those obtained using the QR method. To enhance health outcomes, it is necessary to take measures to raise health spending, increase the use of renewable energy, and foster financial development over the long term. On the other hand, Eastern European nations need to shift their attention from fossil fuels to renewable energy. Keywords: Eastern europe, Institutional quality, Financial development, Life expectancy, Health outcomes

CITATION EXPORT

Elvira Nica, Adela Poliakova, Gheorghe H Popescu et al.. The impact of financial development, health expenditure, CO2 emissions, institutional quality, and energy Mix on life expectancy in Eastern Europe: CS-ARDL and quantile regression Approaches. Heliyon. (2023). https://doi.org/10.1016/j.heliyon.2023.e21084

AUTHORS

6 · 3 CENTRES

Elvira Nica, Adela Poliakova, Gheorghe H Popescu, Katarina Valaskova, Stefan Gabriel Burcea, Andreea-Ligia Drugau Constantin

aDepartment of Administration and Public Management, Faculty of Administration and Public Management, Bucharest University of Economic Studies, Piața Romană, 6, Romania
bDepartment of Economics, Faculty of Operation and Economics of Transport and Communications, University of Zilina, Zilina, Slovak Republic
cDepartment of Finance, Banking and Accounting, Faculty of Finance, Banking and Accounting "Dimitrie Cantemir" Christian University, Bucharest, Romania