IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-04220439.html
   My bibliography  Save this paper

The regulatory path to healthcare systems’ financialization

Author

Listed:
  • Cyril Benoît

    (CEE - Centre d'études européennes et de politique comparée (Sciences Po, CNRS) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique)

Abstract

The literature has often presented European healthcare systems as being less exposed to the growing dependencies on global finance observed in other areas of social policy. This article explores the sources and dynamics of a regulatory path to healthcare systems' financialization that challenges this depiction. Building on analogies with the case of pension policy, we show that the integration of the private health insurance sector into the European Union financial regulation framework has resulted in perceptible processes of financialization. Notably this manifested in the growing role of financial firms, in non-profit health insurers' adoption of ‘financialized' business practices and eventually in a noticeable change of these actors' positioning in domestic healthcare reform. After having discussed the theoretical implications, the article provides an empirical illustration of this argument by documenting the implementation of the Solvency II insurance directive by health insurers in France, and describes its more general consequences and implications beyond this case study.

Suggested Citation

  • Cyril Benoît, 2023. "The regulatory path to healthcare systems’ financialization," Post-Print hal-04220439, HAL.
    • Handle: RePEc:hal:journl:hal-04220439
    DOI: 10.1177/09589287231176776
    Note: View the original document on HAL open archive server: https://hal.science/hal-04220439
    as

    Download full text from publisher

    File URL: https://hal.science/hal-04220439/document
    Download Restriction: no
    File URL: https://libkey.io/10.1177/09589287231176776?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Postma, Jeroen & Roos, Anne-Fleur, 2016. "Why healthcare providers merge," Health Economics, Policy and Law, Cambridge University Press, vol. 11(2), pages 121-140, April.
    2. Böhm, Katharina & Schmid, Achim & Götze, Ralf & Landwehr, Claudia & Rothgang, Heinz, 2013. "Five types of OECD healthcare systems: Empirical results of a deductive classification," Health Policy, Elsevier, vol. 113(3), pages 258-269.
    3. Christine André & Christoph Hermann, 2009. "Privatisation and Marketisation of Health Care Systems in Europe," Palgrave Macmillan Books, in: Marica Frangakis & Christoph Hermann & Jörg Huffschmid & Károly Lóránt (ed.), Privatisation against the European Social Model, chapter 9, pages 129-144, Palgrave Macmillan.
    4. Ana Carolina Cordilha, 2023. "Public health systems in the age of financialization: lessons from the French case," Review of Social Economy, Taylor & Francis Journals, vol. 81(2), pages 246-273, April.
    5. Benjamin M. Hunter & Susan F. Murray, 2019. "Deconstructing the Financialization of Healthcare," Development and Change, International Institute of Social Studies, vol. 50(5), pages 1263-1287, September.
    6. Lucia Quaglia, 2014. "The European Union, the USA and International Standard Setting by Regulatory Fora in Finance," New Political Economy, Taylor & Francis Journals, vol. 19(3), pages 427-444, May.
    7. Waltraud Schelkle, 2012. "A Crisis of What? Mortgage Credit Markets and the Social Policy of Promoting Homeownership in the United States and in Europe," Politics & Society, , vol. 40(1), pages 59-80, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Richard Bůžek & Christoph Scheuplein, 2022. "The Global Wealth Chains of Private‐Equity‐Run Physician Practices," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 113(4), pages 331-347, September.
    2. Stefano Di Bucchianico, 2020. "A note on financialization from a Classical-Keynesian standpoint," Department of Economics University of Siena 824, Department of Economics, University of Siena.
    3. Reibling, Nadine & Ariaans, Mareike & Wendt, Claus, 2019. "Worlds of Healthcare: A Healthcare System Typology of OECD Countries," Health Policy, Elsevier, vol. 123(7), pages 611-620.
    4. Ammi, Mehdi & Fortier, Grant, 2017. "The influence of welfare systems on pay-for-performance programs for general practitioners: A critical review," Social Science & Medicine, Elsevier, vol. 178(C), pages 157-166.
    5. Alvaro S Almeida, 2016. "The Role Of Private Non-Profit Healthcare Organizations In Nhs Systems: Implications For The Portuguese Hospital Devolution Program," FEP Working Papers 577, Universidade do Porto, Faculdade de Economia do Porto.
    6. Mesman, Roos & Faber, Marjan J. & Berden, Bart J.J.M. & Westert, Gert P., 2017. "Evaluation of minimum volume standards for surgery in the Netherlands (2003–2017): A successful policy?," Health Policy, Elsevier, vol. 121(12), pages 1263-1273.
    7. Joana Cima & Alvaro S Almeida, 2018. "Health Expenditure, GDP Growth and the Financial Crisis: A Panel Data Analysis for OECD European Countries," FEP Working Papers 602, Universidade do Porto, Faculdade de Economia do Porto.
    8. Olivier Jacques & Alain Noel, 2022. "Austerity Reduces Public Health Investment," CIRANO Working Papers 2022s-02, CIRANO.
    9. Agata Łaszewska & Ayesha Sajjad & Jan Busschbach & Judit Simon & Leona Hakkaart-van Roijen, 2022. "Conceptual Framework for Optimised Proxy Value Set Selection Through Supra-National Value Set Development for the EQ-5D Instruments," PharmacoEconomics, Springer, vol. 40(12), pages 1221-1234, December.
    10. Natacha Aveline-Dubach, 2022. "Financializing nursing homes? The uneven development of health care REITs in France, the United Kingdom and Japan [Financiariser les maisons de retraite médicalisées ? Le développement inégal des f," Post-Print halshs-03549729, HAL.
    11. Bonasia, Mariangela & Kounetas, Konstantinos & Oreste, Napolitano, 2020. "Assessment of regional productive performance of European health systems under a metatechnology framework," Economic Modelling, Elsevier, vol. 84(C), pages 234-248.
    12. Plümper, Thomas & Neumayer, Eric, 2014. "Income Inequality, Redistribution and their Effect on Inequality in Longevity," CAGE Online Working Paper Series 210, Competitive Advantage in the Global Economy (CAGE).
    13. Allin, Sara & Farmer, Julie & Quiñonez, Carlos & Peckham, Allie & Marchildon, Gregory & Panteli, Dimitra & Henschke, Cornelia & Fattore, Giovanni & Lamloum, Demetrio & Holden, Alexander C.L. & Rice, T, 2020. "Do health systems cover the mouth? Comparing dental care coverage for older adults in eight jurisdictions," Health Policy, Elsevier, vol. 124(9), pages 998-1007.
    14. Kehr, Janina & Muinde, Jacinta Victoria Syombua & Prince, Ruth J., 2023. "Health for all? Pasts, presents and futures of aspirations for universal healthcare," Social Science & Medicine, Elsevier, vol. 319(C).
    15. Anna-Theresa Renner, 2020. "Inefficiencies in a healthcare system with a regulatory split of power: a spatial panel data analysis of avoidable hospitalisations in Austria," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 21(1), pages 85-104, February.
    16. Jacques, Olivier & Noël, Alain, 2022. "The politics of public health investments," Social Science & Medicine, Elsevier, vol. 309(C).
    17. Bravo, Jorge Miguel & Ayuso, Mercedes & Holzmann, Robert, 2019. "Making Use of Home Equity: The Potential of Housing Wealth to Enhance Retirement Security," IZA Discussion Papers 12656, Institute of Labor Economics (IZA).
    18. Daniela Gabor, 2021. "The Wall Street Consensus," Development and Change, International Institute of Social Studies, vol. 52(3), pages 429-459, May.
    19. Vincent Šoltés & Beáta Gavurová, 2014. "The possibilities of day surgery system development within the health policy in Slovakia," Health Economics Review, Springer, vol. 4(1), pages 1-12, December.
    20. Matthias Klumpp & Dominic Loske & Silvio Bicciato, 2022. "COVID-19 health policy evaluation: integrating health and economic perspectives with a data envelopment analysis approach," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 23(8), pages 1263-1285, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-04220439. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.