Table 5 NCMS fund expenditure model
From: Managing the medical resources of a national insurance program: lessons based on China’s NCMS
(1) Fixed model 1 | (2) Fixed model 2 | (3) One step GMM 1 | (4) One step GMM 2 | |
|---|---|---|---|---|
Transfer | -3.291*** | -4.096*** | -2.380** | -1.334 |
(0.601) | (0.804) | (0.978) | (0.963) | |
Lagged one period of balance rate | -0.242*** | -0.190*** | ||
(0.071) | (0.057) | |||
Lagged two period of balance rate | -0.248*** | -0.181*** | ||
(0.060) | (0.060) | |||
Lagged one period of expectation | -4.323*** | -3.435*** | ||
(1.293) | (0.988) | |||
Revenue decentralization | -0.298 | -0.538 | ||
(0.221) | (0.442) | |||
Expenditure decentralization | 0.396* | 1.234** | ||
(0.226) | (0.534) | |||
Local matching subsidy | 0.921 | 0.070 | 8.637*** | 6.869*** |
(1.058) | (1.194) | (1.837) | (1.551) | |
Per capita GDP | 2.569 | 10.188* | 100.332*** | 79.159*** |
(3.907) | (5.382) | (15.666) | (11.024) | |
Old | 1.502*** | 1.728*** | 0.727 | 0.980 |
(0.375) | (0.444) | (0.932) | (0.882) | |
Children | 0.748** | 0.851*** | 2.313*** | 2.884*** |
(0.327) | (0.300) | (0.794) | (0.722) | |
Healthcare expenditure | -26.964*** | -25.927*** | -44.234*** | -44.813*** |
(4.219) | (4.761) | (5.255) | (5.021) | |
Province fixed effect | YES | YES | NO | NO |
Time fixed effect | YES | YES | NO | NO |
Constant | 40.418 | 16.001 | ||
(48.625) | (48.613) | |||
Observations | 280 | 280 | 224 | 224 |
R2 | 0.7698 | 0.7600 | ||
AR(1) | 0.001 | 0.001 | ||
AR(2) | 0.222 | 0.192 | ||
Sargan | 0.000 | 0.000 | ||
Hansen | 0.545 | 0.528 |