How macroeconomic factors and educational level impact on the quality of healthcare status: some dynamic panel data evidence from Europe

Healthcare systems have been thoroughly analyzed in recent years all over the world, with an increased interest in health status as an indicator of population well-being. However, the existing relationship between health status and the economic situation is still unknown, and for this reason, many researchers have started looking for factors to ensure a better health system. The aim of this paper is to measure the impact of the quality of care on the health status of European countries by considering macro-financial magnitudes and social determinants. To investigate this connection, the methodology used is a dynamic panel data analysis by employing the Arellano–Bond Generalized Method of Moments estimator. The data used in this study corresponds to twenty countries of the European Union, for the period 2011–2021. The results show that the number of specialists is the variable which mostly affects health status, these results being robust to any specification or economic-social control. With regards to macro-financial magnitudes, healthcare expenditure significantly increases health status, indicating that increasing expenditure has a positive impact on the healthcare system of European countries. Education level also exerts a positive effect on health status which is indeed the most noticeable contribution of the paper. Finally, the results presented in this paper are of particular interest in designing public policies, therefore increasing the efficiency of European healthcare systems.