This paper provides evidence about socioeconomic inequity in inpatient healthcare utilisation in South Africa after 10 years of reform after Apartheid, and examines which are the contributing determinants. We use the South African sample of the World Health Survey from 2002–03 and estimate horizontal inequity in inpatient healthcare utilisation using the concentration index. We further decompose inequity in inpatient care to explore the contribution of the different determinants of use. We find that inpatient healthcare utilisation is found to be pro-rich distributed in South Africa. The rich are more likely to use inpatient healthcare than the poor, given the same level of need. In addition, race is found to be the most important contributor (42%) to socioeconomic inequity in inpatient healthcare utilisation in South Africa. Gender, education and the consumption level are also found to be important contributors, but to a lesser degree than race. Our findings provide evidence that socioeconomic inequity in inpatient healthcare utilisation still exists in post-Apartheid South Africa and that policies, regulations and research should contribute to a more equitable utilisation. The implementation of National Health Insurance could help to reduce the major problems and large (socioeconomic and racial) inequalities of the South African healthcare system. 相似文献
We consider a portfolio optimization problem in a defaultable market with finitely‐many economical regimes, where the investor can dynamically allocate her wealth among a defaultable bond, a stock, and a money market account. The market coefficients are assumed to depend on the market regime in place, which is modeled by a finite state continuous time Markov process. By separating the utility maximization problem into a predefault and postdefault component, we deduce two coupled Hamilton–Jacobi–Bellman equations for the post‐ and predefault optimal value functions, and show a novel verification theorem for their solutions. We obtain explicit constructions of value functions and investment strategies for investors with logarithmic and Constant Relative Risk Aversion utilities, and provide a precise characterization of the directionality of the bond investment strategies in terms of corporate returns, forward rates, and expected recovery at default. We illustrate the dependence of the optimal strategies on time, losses given default, and risk aversion level of the investor through a detailed economic and numerical analysis. 相似文献
This paper analyses the influence of market and brand-related signals on franchisees’ decisions when choosing a franchise brand with which to open an outlet for the first time. Panel data methodology was used to analyse a sample of 1277 chains operating in Spain, Mexico and Peru between 2004 and 2013. The results show that market signals prevail over brand-related signals. Within brand-related signals, franchisees first seek information relating to the brand’s sector and then seek information relating to the brand’s value. Franchisors should match the content of the signals they send to the market to the true characteristics of the franchise. Franchisors should also endeavour to ensure the country where they operate has general and franchise-specific legislation that fosters business activity by both franchisor and franchisee. The use of institutional quality as a signal in a multi-country study represents a significant contribution to the literature on franchising.
The regional diversity of communal persistence in nineteenth‐century Spain has been well documented by historiographers. Although the explanation of this divergence has been attributed to the social and environmental context, together with the prevailing market incentives, that characterized the different rural societies of this period, there has been no clear assessment of the role played by each of these factors. Through a comparative study of the historical data at the provincial level, this paper analyses the relative contribution of these elements to that divergence. The results diminish the significance of market signals and show how the social and environmental conditions interacted to limit, or promote, the dismantling of the common lands. Apart from the greater need to resort to the commons when it was necessary to increase agricultural production in dry regions, this paper highlights the role of unequal levels of access to land in promoting enclosure. The Spanish case illustrates the limitations of the theories that predict the inevitable drift towards individual property rights. 相似文献
We show that, in a range of market conditions, an ever stricter environmental policy does not always lead to ever cleaner production methods and ever lower production of polluting goods. We consider an integrated technology, where firms can reduce their emission intensities in a continuous fashion. Analogous to the previous literature we find that firms' emission intensities can be U‐shaped in the strictness of policy, but we show that this applies only under low profitability conditions. Under high profitability conditions, output levels are U‐shaped in the strictness of the policy. The latter result is new in the literature. In the case where the U‐shape arises in emission intensities, the minimum is reached where the marginal abatement cost curves intersect. 相似文献
Review of World Economics - This paper addresses the impact of countries’ backward participation in global value chains (GVCs) on their current account balances. Our results, based on a large... 相似文献