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ORIGINAL RESEARCH ARTICLE

Evaluation of long-term care expenditures from the silver economy perspective

Gülay Ekinci*
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1 Department of Health Management, Faculty of Health Sciences, Istanbul Sabahattin Zaim University, Istanbul, Turkey
GHES, 3298 https://doi.org/10.36922/ghes.3298
Submitted: 28 March 2024 | Accepted: 24 May 2024 | Published: 23 October 2024
© 2024 by the Author(s). This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution 4.0 International License ( https://creativecommons.org/licenses/by/4.0/ )
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Abstract

Silver economics is a field of science that evaluates the long-term care needs that develop because of aging from the economics perspective within the supply and demand framework. The expenditures and investments made to meet long-term care needs constitute the main subject of long-term care expenditures. This study empirically tested the relationship between long-term care expenditures and life expectancy. Expenditures on long-term care facilities (LTCFE) were taken as the dependent variable, and life expectancy at birth (LEAB) and life expectancy at 65 years and over (LEO65) were taken as independent variables. The analysis included data from 25 countries with regular LTCFE from 2004 to 2020. The variables were analyzed using the econometric model established within the framework of panel data analysis. According to the least squares analysis results, a 1% increase in LEAB increased LTCFE by 2.1%, while a 1% increase in LEO65 decreased LTCFE by 0.54%. Moreover, a unidirectional causality relationship was found between LTCFE and LEAB and LEO65. The empirical evidence suggests that life expectancy impacted LTCFE. According to the findings, they emphasize the importance of aligning policy frameworks with demographic changes to ensure sustainable long-term care systems in aging societies.

Keywords
Econometric evaluation
Silver economy
Expenditures on long-term care facilities
Life expectancy
Aging population
Funding
None.
Conflict of interest
The author declares that she has no competing interests.
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Global Health Economics and Sustainability, Electronic ISSN: 2972-4570 Published by AccScience Publishing
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