BRI countries are needed to expand healthcare expenditures, because they are facing several diseases such as typhoid, depression, anxiety, obesity, cancer, HIV aids, and so on (68–70). In addition, the coefficient of the joint effect of environmental expenditures and economic efficiency have positive effects but lower magnitudes. This means that simultaneously EFF and EXP increase the healthcare expenditures because countries can utilize their resources through a clean environment. We concentrate on the effect of economic efficiency and environmental expenditures on healthcare expenditures, report the outcomes in Table 8.

Economists’ Obsession With “Efficiency” Is Just an Endorsement of … – Jacobin magazine

Economists’ Obsession With “Efficiency” Is Just an Endorsement of ….

Posted: Sat, 11 Feb 2023 16:29:01 GMT [source] efficiency occurs when units of goods are being supplied at the lowest possible average total cost. When drawing diagrams for businesses, this condition is satisfied if the equilibrium is at the minimum point of the average total cost curve. This is again the case for the long run equilibrium of perfect competition. For an extensive discussion of many other types of productive efficiency and its measures (Farrell, Hyperbolic, Directional, Cost, Revenue, Profit, Additive, etc.) and their relationships.

Healthcare Expenditures-Economic Efficiency Nexus

This fact indicates the effectiveness of the proposed investment project and the feasibility of investing in this project. The calculated data for evaluating the effectiveness of investments are presented in Table 5. The calculated data for evaluating the effectiveness of investments are presented in Table 1. Evaluation of the effectiveness of investments in manufacturing equipment was based on determining the adequate income that these programs can provide.

Table 1 summarizes the results of the stochastic frontier cost function estimation. Since the index of the likelihood ratio test was high in this estimate for the Cobb–Douglas function, there was no need to estimate the translog function.

Extended data

In this descriptive-analytical Economic Efficiency , data from diagnostic laboratories of the hospitals of UUMS have been inputted into Frontier4.1 software after taking the log of variables. Then, the technical and economic efficiency of the laboratories were obtained by estimating the production and cost function using the stochastic frontier analysis method, assuming input minimization for 2016.

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