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Global Health Economics and
Sustainability
Silver economy and long-term care

States, USD60,000 in Denmark and the Netherlands, protection in care services. In this context, we recommend
and USD50,000 in Germany. Brent (2022) reported the following:
that the value of years of life lost per person in nursing • Design sports activity centers and culture-art centers
home adults was USD1.7 million that corresponding to specifically for the elderly
in 2016 approximately 10% of national income as USD • Establish support teams to support daily activities in
18.7 trillion for the USA. long-term care
This study aimed to determine the economic evaluation • Define standards for long-term care processes
of the relationship between long-term care expenditures • Develop home healthcare services (home environment,
and LEAB and those over 65 years of age in the silver palliative care, or integration into primary care
economy, where long-term care investments are essential. services)
The causality results revealed unidirectional relationships • Support/develop long-term care centers
of LEAB and LEO65 to LTCFE. According to this result, • Design and support products suitable for the needs of
1
changes in LEAB and LEO65 unilaterally affect LTCFE. elderly individuals
Analyses using the econometric model revealed that a 1% • Increase public support to prevent economic
increase in the LEAB increased LTCFE by 2.1%, while a inadequacy
1% increase in the LEO65 decreased LTCFE by 0.54%. • Expand/strengthen long-term care and support
While this effect increased LTCFE because of extended life insurance.
expectation at birth, LEO65 decreased LTCFE. Considering This study provides policymakers with macroeconomic
the increasing effect of LTCFE in LEAB and the extension evidence to advance and regulate the future of long-term
of life expenses, it is necessary to build infrastructure and care needs in healthcare. Furthermore, this study’s results
investments for LTCFE and increase these investments. In provide evidence for resource allocation decisions in
contrast, the increase of LEO65 decreased LTCFE because determining public expenditure policies.
it can be interpreted that there is inherently a limit to the The limitations of this study, considering the variables
life expectancy of those aged 65 years and over. Therefore, subject to the research, were the year range of these
this study’s results confirmed the hypothesis that LEAB, variables (between 2004 and 2020), and the countries
LEO65, and LTCFE are related and were evaluated in line included in the research. Moreover, the methods and
with the literature (Jaba et al., 2014; Sey & Aydın, 2019; variables used within the scope of the research were also
Şener & Yiğit, 2017; Şahbudak & Şahin, 2015). considered research limitations.
5. Conclusion Acknowledgments

When the needs that develop because of aging are None.
considered from socioeconomic and health perspectives,
increases in the incidence of chronic diseases (such as Funding
heart diseases, diabetes, hypertension, and cancer) that
develop with old age, deterioration in joints and muscles, None.
development of movement restrictions due to osteoporosis, Conflict of interest
mental health problems (such as dementia, Alzheimer’s
disease, and depression), and decreases in vision and The author declares that she has no competing interests.
hearing abilities require health services. Decreased income
during retirement and decreased participation in social Author contributions
activities due to physical limitations or health problems This is a single-authored article.
may increase the feeling of social isolation in elderly
individuals. For these reasons, the ability to perform Ethics approval and consent to participate
daily living decreases with old age, which may increase Not applicable.
the need for daily care. Furthermore, elderly individuals 1
may have problems accessing health services because I have worked in the field of nursing before. According to an
incident I experienced in this field; “A 94-year-old patient of
of mobility and economic factors. All these reasons can mine, who has a habit of regularly reading books using the
negatively affect the quality of life of elderly individuals. bedside light before going to sleep, one day took the book
With the projected increase in the need for long-term care printed on glossy paper in my hand and examined it, and
due to longer life expectancy, governments must design told me that while reading these books at night, it tired her
innovative health and social policies to implement services eyes because they reflected the light back. Because in their
such as employment, health, infrastructure, and social time, books were printed on straw paper.”

Volume 2 Issue 4 (2024) 6 https://doi.org/10.36922/ghes.3298