Year: 2025
Type: article
Abstract: It is analyzed the dynamics of changes in the level of economic security of the state in 34 European countries during 2000- 2023 in the article. Integral indicator of economic security of the state is constructed with consideration of the six individual indicators, namely GDP per capita (current US$), General government final consumption expenditure (% of GDP, Gross capital formation (% of GDP), Military expenditure (% of GDP), Trade (% of GDP), and Total reserves in months of imports. Approach to the construction of economic security index relies on the combination of econometric methods such as nature and Savage normalization, principal component analysis, ranking approach, and Fishburn formula. Analysis of economic security index dynamics for 34 European countries in 2000-2023 showed that the highest value of the above-mentioned indicator is in Belgium, Denmark, Iceland, Ireland, the Netherlands, Norway and Switzerland, while the in Albania, Bosnia and Herzegovina, Romania, Spain and Ukraine it is the lowest ones. On average, the countries use their potential to ensure the economic security of the state by only 24%, with the minimum value of the indicator for the period being 12% and the maximum being 57%. The impact of different groups of health care expenditures per capita (domestic government expenditures, domestic private expenditures, external expenditures, out-of-pocket expenditures) on the integral indicator of the state’s economic security is studied using regression modeling on panel data (random effects model) in the Stata 14.2/SE software product. It is established that all groups of expenditures, except external ones, have a positive and statistically significant impact on the level of economic security of the state. The strongest impact on the volatility of the integral indicator of the state’s economic security is the increase in out-ofpocket healthcare expenditures per capita, since an increase in this group of expenditures by 1 USD allows for an increase in the performance indicator by 0.0001437 unit, while the strength of the impact of domestic public and domestic private health care expenditures per capita is estimated as an increase in the integral indicator of the state’s economic security by 0.0000295 units and 0.0000675 units, respectively.
Authors: Alina Vysochyna, Andrii Teriohin
Language: English
Topic: Global Health Care Issues
Subfield: General Health Professions
Field: Health Professions
Domain: Health Sciences
Open Access status: diamond
OpenAlex ID: W4410413831