Public expenditure on health, economic growth and elasticity of substitution: Results for the Spanish economy, 1985-2003
AbstractThis paper analyzes the effect that government expenditure on health has on economicgrowth by estimating the elasticity of substitution for a CES production function in the Spanish economy during the period 1985-2003. Our results show that the higher the efforts of public administrations in providing greater public health coverage the higher the elasticity of substitution between production factors will be, and consequently this will benefit economic growth.
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Bibliographic InfoArticle provided by Universidad de Antioquia, Departamento de Economía in its journal LECTURAS DE ECONOMÍA.
Volume (Year): (2009)
Issue (Month): 70 ()
Postal: Lecturas de Economía, Departamento de Economía, Calle 67, 53-108, Medellin 050010, Colombia.
Find related papers by JEL classification:
- I12 - Health, Education, and Welfare - - Health - - - Health Production
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
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