Health expenditure, governance and SDG3 nexus: a longitudinal analysis in BRICS economies

Table 6 FMOLS estimation results

	Baseline Model			Model-A	Model-B	Model-C
	SDG3	SDG3	SDG3	SDG3	SDG3	SDG3
CHE	3.920**			4.104**
	(0.2167)			(0.2089)
	[18.0904]			[19.6456]
CHE*GGOV				0.026*
				(0.0609)
				[0.4310]
DGHE		2.860**			3.163**
		(0.0958)			(0.1012)
		[29.8558]			[31.2709]
DGHE*GGOV					0.335**
					(0.0405)
					[8.2658]
DPHE			-0.677**			-0.675**
			(0.0201)			(0.0203)
			[-33.7085]			[-33.2743]
DPHE*GGOV						0.028**
						(0.0083)
						[3.3520]
GGOV	2.148**	3.794**	1.956
	(0.4336)	(0.4735)	(0.4639)
	[4.9541]	[8.0115]	[4.2170]
UNEM	0.043	0.098	0.257**	-0.076	0.012	0.237**
	-0.077	-0.081	(0.0776)	-0.073	-0.076	(0.0780)
	[0.5548]	[1.2174]	[3.3100]	[-1.0464]	[0.1527]	[3.0401]
NHB	-4.311**	-4.985**	-4.541**	-4.089**	-4.448**	-4.634**
	(0.2446)	(0.2730)	(0.2652)	(0.2360)	(0.2637)	(0.2758)
	[-17.6250]	[-18.2613]	[-17.1201]	[-17.3250]	[-16.8691]	[-16.8041]
NPH	9.851**	12.609**	6.135**	10.419**	11.201**	6.692**
	(0.5958)	(0.6715)	(0.6396)	(0.5960)	(0.7131)	(0.6294)
	[16.5327]	[18.7769]	[9.5922]	[17.4824]	[15.7070]	[10.6321]
R-squared:	0.849	0.905	0.927	0.848	0.904	0.926

Note: SDG3 is the dependent variable. CHE, DGHE, and DPHE are the health expenditure variables. GGOV is the interaction variable. ***=p < 0.01, **=p < 0.05, and *=p < 0.10. The first bracket includes robust standard errors, and the third bracket includes t-statistics.

ISSN: 1744-8603