Staff View: The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis

The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis

The purpose of this study is to examine empirically the effect of government spending on healthcare systems on malaysia's economic growth during the early stages of the Covid 19 epidemic. Even as society became aware of the potential dangers of Covid 19, there has been a massive effort to rapid...

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Main Authors:	Abd. Rashid, Intan Maizura, Wan Husain, Wan Ahmad Fauzi, Abu Samah, Irza Hanie, Ibrahim, Suraiya, Hamzah, Hariri, Amlus, Mohammad Harith
Format:	Conference or Workshop Item
Published:	2023
Subjects:	H Social Sciences (General)
Online Access:	http://eprints.utm.my/108175/ http://dx.doi.org/10.1063/5.0127925
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id	my.utm.108175
record_format	eprints
spelling	my.utm.1081752024-10-22T07:41:50Z http://eprints.utm.my/108175/ The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis Abd. Rashid, Intan Maizura Wan Husain, Wan Ahmad Fauzi Abu Samah, Irza Hanie Ibrahim, Suraiya Hamzah, Hariri Amlus, Mohammad Harith H Social Sciences (General) The purpose of this study is to examine empirically the effect of government spending on healthcare systems on malaysia's economic growth during the early stages of the Covid 19 epidemic. Even as society became aware of the potential dangers of Covid 19, there has been a massive effort to rapidly increase capacity in the healthcare system. In Malaysia, in addition to emphasising the importance of strict adherence to the Movement Control Order (MCO), the government announced an immediate increase in funding for healthcare services as part of the initial phase fiscal policy reply to the Covid 19 outbreak. This study employed Dynamic Panel Data, also identified as a longitudinal study, and collected data over a four-month period, from December 2019 to March 2020, in five Asian countries involved with Covid 19. This study discovered that the Dynamic Panel Data System GMM Estimation model is suitable for interpreting the results, indicating that government expenditure on Covid-19 (p-value = 0.036), unemployment rate and inflation rate have a significant relationship with healthcare sector growth of 1%, 2%, and 5%, respectively. In terms of limitations, such a study only focuses on four months of data from selected Asia countries participating in Covid-19. The findings of panel causality recommend that there are bidirectional links between healthcare sector growth and government spending. Empirical findings suggest that fiscal policy reforms are required to channel healthcare industry growth to increased government spending as a result of Malaysia's fiscal policy. 2023 Conference or Workshop Item PeerReviewed Abd. Rashid, Intan Maizura and Wan Husain, Wan Ahmad Fauzi and Abu Samah, Irza Hanie and Ibrahim, Suraiya and Hamzah, Hariri and Amlus, Mohammad Harith (2023) The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis. In: 2nd International Recent Trends in Engineering, Advanced Computing and Technology Conference, RETREAT 2021, 1 December 2021-3 December 2021, Virtual, Online, Perth, Australia. http://dx.doi.org/10.1063/5.0127925
institution	Universiti Teknologi Malaysia
building	UTM Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	Universiti Teknologi Malaysia
content_source	UTM Institutional Repository
url_provider	http://eprints.utm.my/
topic	H Social Sciences (General)
spellingShingle	H Social Sciences (General) Abd. Rashid, Intan Maizura Wan Husain, Wan Ahmad Fauzi Abu Samah, Irza Hanie Ibrahim, Suraiya Hamzah, Hariri Amlus, Mohammad Harith The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis
description	The purpose of this study is to examine empirically the effect of government spending on healthcare systems on malaysia's economic growth during the early stages of the Covid 19 epidemic. Even as society became aware of the potential dangers of Covid 19, there has been a massive effort to rapidly increase capacity in the healthcare system. In Malaysia, in addition to emphasising the importance of strict adherence to the Movement Control Order (MCO), the government announced an immediate increase in funding for healthcare services as part of the initial phase fiscal policy reply to the Covid 19 outbreak. This study employed Dynamic Panel Data, also identified as a longitudinal study, and collected data over a four-month period, from December 2019 to March 2020, in five Asian countries involved with Covid 19. This study discovered that the Dynamic Panel Data System GMM Estimation model is suitable for interpreting the results, indicating that government expenditure on Covid-19 (p-value = 0.036), unemployment rate and inflation rate have a significant relationship with healthcare sector growth of 1%, 2%, and 5%, respectively. In terms of limitations, such a study only focuses on four months of data from selected Asia countries participating in Covid-19. The findings of panel causality recommend that there are bidirectional links between healthcare sector growth and government spending. Empirical findings suggest that fiscal policy reforms are required to channel healthcare industry growth to increased government spending as a result of Malaysia's fiscal policy.
format	Conference or Workshop Item
author	Abd. Rashid, Intan Maizura Wan Husain, Wan Ahmad Fauzi Abu Samah, Irza Hanie Ibrahim, Suraiya Hamzah, Hariri Amlus, Mohammad Harith
author_facet	Abd. Rashid, Intan Maizura Wan Husain, Wan Ahmad Fauzi Abu Samah, Irza Hanie Ibrahim, Suraiya Hamzah, Hariri Amlus, Mohammad Harith
author_sort	Abd. Rashid, Intan Maizura
title	The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis
title_short	The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis
title_full	The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis
title_fullStr	The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis
title_full_unstemmed	The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis
title_sort	initial fiscal policy response to covid-19 in malaysia: the impact of government spending on healthcare sector using dynamic panel data system gmm estimation analysis
publishDate	2023
url	http://eprints.utm.my/108175/ http://dx.doi.org/10.1063/5.0127925
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score	13.211869

The initial fiscal policy response to Covid-19 in Malaysia: The impact of government spending on healthcare sector using dynamic panel data system GMM estimation analysis

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