48
+ ✓✓
+ ✓✓
− ✓✓
+ ✓✓
−✓ −✓
−✓ +✓
− ✓✓ −✓
0.40*** 0.48*** 1.04***
Allocative efficiency Health expenditure share (3)
+ ✓✓
+ ✓✓
−2.66*** −2.95*** −2.19
Health expenditure volatility (4)
+ ✓✓
+ ✓✓
0.11 0.07 0.51***
Technical efficiency Cost-effectiveness of health expenditure (5)
Source: World Bank. Note: GDP = gross domestic product; IMF = International Monetary Fund; MTBF = medium-term budgetary framework; MTEF = medium-term expenditure framework; MTFF = mediumterm fiscal framework; MTPF = medium-term performance framework; OECD = Organisation for Economic Co-operation and Developement. Coefficients from the preferred specifications are from column 8 of table F.2 in appendix F. * = significant at 10 percent; ** = significant at 5 percent; *** = significant at 1 percent; + = positive coefficient; − = negative coefficient; ✓✓ = significance with the preferred specification; ✓ = significance with other specifications yielding similar MTEF results as the preferred specification.
Other variable Lag dependent variable
+ ✓✓
−✓
+ ✓✓
+ ✓✓ − ✓✓
+✓ + ✓✓
−✓
−1.74*** −2.38*** −3.42***
Total expenditure volatility (2)
+✓
+ ✓✓
Conditioning variable OECD
Control variables Lag GDP growth Trade openness Oil exporter Conflict Lag IMF program Population Population square Inflation Heavily indebted poor country Aid Lag credit market access
0.85** 0.99* 2.82***
Fiscal balance (1)
MTEF variables MTFF MTBF MTPF
Variable
Fiscal discipline
Table 4.1 Summary of the Econometric Results