Dynamic linkage between health outcomes and income inequality in ASEAN-6 countries during 1992-2015: an LSDVC technique

The study aims to investigate the relationship between income inequality, health outcomes, health expenditure (HE), and education in the short and long run. Cardiovascular disease (CVD) is proxied to health outcomes, and the Gini coefficient and Theil index are the indicators of income inequality. It focuses on ASEAN-6 countries namely Indonesia, Malaysia, the Philippines, Thailand, Singapore, and Vietnam. The study utilises annual panel data from 1992-2015, where there are issues of high-income inequality and high cases of CVD in ASEAN-6 countries. The analytical tool used in the study is the Bias-Corrected Least Squared Dummy Variable (LSDVC), which is sufficient for small panel data. The finding indicates there is a relationship between income inequality and cardiovascular disease in the short and long run. At the same time, there is a significant relationship between CVD, health expenditure, and education level in the short and long run.