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

Table 7 Robustness check using system GMM

	Baseline Model			Model-A	Model-B	Model-C
	SDG3	SDG3	SDG3	SDG3	SDG3	SDG3
SDG3 (-1)	0.981***	0.967***	0.949***	0.985***	0.970***	0.942***
	[0.0107]	[0.0149]	[0.0124]	[0.0052]	[0.0085]	[0.0106]
CHE	0.221**			0.193***
	[0.0107]			[0.0313]
CHE × GGOV				0.062
				[0.0407]
DGHE		0.015			0.020
		[0.0270]			[0.0185]
DGHE × GGOV					0.044**
					[0.0213]
DPHE			-0.031***			-0.037***
			[0.0114]			[0.0115]
DPHE × GGOV						0.008
						[0.0069]
GGOV	0.095	0.024	0.046	-0.397	0.488*	0.411
	[0.1228]	[0.1081]	[0.1130]	[0.2451]	[0.2808]	[0.3175]
UNEM	0.014	-0.044**	-0.077***	-0.006	-0.057***	-0.095***
	[0.0281]	[0.0206]	[0.0161]	[0.0102]	[0.0148]	[0.0.0142]
NHB	-0.319***	-0.189	-0.384***	-0.261**	-0.106	-0.383***
	[0.1121]	[0.1560]	[0.0764]	[0.1239]	[0.1689]	[0.1438]
NPH	0.701**	0.353	0.566***	0.459*	0.094	0.540*
	[0.2801]	[0.3575]	[0.2350]	[0.2610]	[0.3764]	[0.2971]
Constant (c)	3.0087***	3.239***	6.822***	2.938***	3.3696***	7.926***
	[0.5109]	[1.0862]	[1.1182]	[0.3124]	[0.6168]	[1.1531]
Sargan test (p-value)	0.207	0.016	0.110	0.145	0.900	0.161
Hansen J-Test (p-value)	1.000	1.000	1.000	1.000	1.000	1.000
AR(1) Test (p-value)	0.035	0.035	0.036	0.034	0.034	0.035
AR(2) Test (p-value)	0.562	0.554	0.543	0.562	0.562	0.544
Instrument ratio i/j	0.575	0.575	0.575	0.958	0.958	0.958

Note: SDG3 is the dependent variable. CHE, DGHE, and DPHE are the health expenditure variables. GGOV is the interaction variable. The null hypothesis of the Hansen J-test indicates the instruments are valid while the Arellano-Bond (AR-2) test’s null hypothesis refers to the absence of second-order autocorrelation in the residuals. Standard errors are in the parentheses. ***=p < 0.01, **=p < 0.05, and *=p < 0.10

ISSN: 1744-8603