Econometric Models of Private and Public Health Expenditure in OECD countries, 1970-96
AbstractWe analyse the evolution of Private Consumption on Health, having into account that there are substitution effects between public and private expenditure in OECD countries. From the analysis of the evolution of these variables our main conclusion is that the increase of expenditure on Health, with economic development, is generally positive for welfare and obeys to a rational behaviour of consumers. So we do not agree with the propositions and attempts to cut public expenditure on this important service which sometimes is made in the name of a kind economic efficiency that does not have into account, in the desirable degree, the quality of services and social welfare. We estimate some econometric models for private expenditure and the results confirm the existence of a high degree of substitution, what means that diminutions in public expenditure do not imply diminution in total expenditure on health but an increases in private one. The findings support a distribution between private and public expenditure, in order to guarantee general assistance of population, to get high standards of consumers welfare and to avoid abuses in demand.
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Bibliographic InfoArticle provided by Euro-American Association of Economic Development in its journal Applied Econometrics and International Development.
Volume (Year): 3 (2003)
Issue (Month): 3 ()
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Web page: http://www.usc.es/economet/eaa.htm
Find related papers by JEL classification:
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
- H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education
- I1 - Health, Education, and Welfare - - Health
- I2 - Health, Education, and Welfare - - Education
- O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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