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KMID : 1124020190350030073
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Korean Social Security Studies
2019 Volume.35 No. 3 p.73 ~ p.100
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The Spillover Effect across Public, Non-profit and For-profit Home-visit Care Market: LTC Expenditure and Days
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Kwon Hyun-Jung
Jeon Hyun-Su
Park Dong-Hwa
Jo Young-Min
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Abstract
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Since the introduction of the long-term care insurance system in 2008, Korean society is facing the failure of the marketization policy of visiting care services. This study aims to examine the spillover effect of public non-profit organizations’ market share on the expenditure and days of LTC in home visit care market. A merged dataset of local-level unit combining from online resources (i.e. NHIC administrative data etc.) was used and multiple regression analysis was used. The results show that the higher the non-profit market share had a significant association with a lower level of the expenditure and days of LTC. The results of this analysis support the theory of this asymmetric market model that the nonprofit organization has a positive spillover effect by acting as a signal to the users who lack information. This study confirms market failure as an answer to whether resources can be efficiently made by the market.
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KEYWORD
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Home Visit Care, Market Share of Public and Non-Profit Organizaion, Spillover Effect, Asymmetric Information Model, Long-Term Care Expenditure
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