健康資本、租稅與產出

Health capital, Taxation and Output

金祥玉(Hsiang-Yu Chin)

指導教授 ： 吳博欽

中原大學/商學院/國際貿易研究所/碩士(2006年)

https://doi.org/10.6840/cycu200600229

摘要

Chadwick（1842）首先提出健康支出可視為對於人力資本的投資，因為健康支出增加，有利於教育品質的提升及人力資本累積。本文建立包含產出、健康資本與實質資本三條方程式的聯立方程模型，考量三者間互為因果關係的內生性特徵，分析產出、健康資本及實質資本的交互關係。實證上應用一般動差法（GMM）對1970年至2004年的G7國家資料進行估計，藉以瞭解這些先進國家在勞動投入與技術水準達到高度穩定的狀態下，產出水準受到基本面因素、實質資本及健康資本的影響。其次，探討租稅對於健康資本和實質資本的影響，進而對產出水準的間接衝擊。
實證結果顯示，在未考慮健康資本與實質資本的內生性問題下，傳統的單一產出方程式，會低估實質資本、教育程度與工作經驗對於產出的影響，且忽略健康資本對於產出的影響。因此，在估計產出方程式時，必須將產出、實質資本與健康資本的內生性問題納入考量，以獲得更準確的估計結果。
其次，由產出、實質資本與健康資本的聯立估計結果得知，產出水準、依賴人口比對健康資本的影響是正向的，且政府租稅對於健康資本的影響為負的，而實質資本與教育程度對健康資本的影響是不顯著的。另外，健康資本、經濟體開放程度及政府稅賦對實質資本的累積是正向影響，而產出、利率及教育程度對於實質資本的投入是負向影響。因此，政府政策會直接造成健康資本累積的減少，間接的使經濟體衰退。

關鍵字

內生性 ； 一般動差法 ； 健康資本 ； 租稅

並列摘要

Based on the conclusion, derived by Chadwick (1842), that health expenditure can improve human capital through increasing quality of education and human capital accumulation, this paper set up a simultaneous equation system, including output equation, health capital equation and physical capital equations, to analyze the effect of health capital and taxation policy on output.
In empirical evidence, I adopt Generalized Moment Method (GMM) to estimate simultaneous equation system. Yearly data spanned from 1970 to 2004 and sample countries come from G7 (Japan, United States, UK, Canada, Germany, France and Italy).
The empirical results show that under a single output equation, without considering the endogeneity question, the effects of physical capital, education degree and work experience on output are underestimating. Furthermore, it also ignores the influence of health capital on output. So we have to consider the endogeneity and we can get more correctly estimation. For the estimated result of simultaneous equation system, the dependent population have positive effect on health capital accumulation. But taxation policy has negative effect on health capital.
Besides, the results of physical capital show that health capital, the degree of economic openness and government taxation have positive effect to physical capital accumulation. But, output, interest rate, and education degree have negative influence in input of physical capital.

並列關鍵字

taxation ； health capital ； GMM ； endogeneity

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