El efecto del gasto público sanitario y educativo en la determinación del bienestar de los países de la OCDE

Zusammenfassung

This thesis aims to determine the effects that public expenditure on education and public health could have on the determination of well-being measured through HDI in countries with high level of income, thus being able to assess the cost of budget reduction policies in education and health in terms of well-being. The data used refer to the 34 members of the Organisation for Economic Co-operation and Development (OECD) for the period 1980-2013, although for the final estimate of the model it has been reduced to the period 1980-2011 due to the scarcity of data from the last two years. The methodology chosen is based on the econometric study through a model with panel data using estimators adapted to the particularities of the models with panel data, where the presence of temporary autocorrelation, heteroscedasticity or contemporary correlation between panels occurs frequently. Finally, and for the sake of the robustness of the model, an approach based on the use of different estimators has been adopted.