Work

Estimating Healthcare Expenditures for Northern Europe and the Baltic Region: Revisiting the Baumol Model

Year: 2024

Type: article

Abstract: The study aims to empirically test Baumol’s cost disease hypothesis about to the secular rise in healthcare expenditures for Northern Europe and the Baltic region in recent decades. Panel data regressions and adjusted Baumol variables are applied to the data for 11 countries of Northern Europe and the Baltic region from 2000 to 2019. The results highlight that Baumol’s cost disease partly drives the secular rise in healthcare expenditures in the countries studied. The Baumol cost disease is estimated to be around 0.01 to 0.05 for current health expenditure, 0.07–5.48 for public health expenditure, and 3.14–6.23 for private health expenditure. This finding suggests that achieving a balanced growth in different sectors of the economy may result in separating the health sector from having a Baumol’s effect in the countries studied.

Source: Ekonomika

DOI: 10.15388/ekon.2024.103.4.6

Authors: Shailender Singh, Amar Singh, Arvind Mohan, Tanuja Gour

Institutions: Symbiosis International University, Graphic Era Hill University, IMS Unison University

Language: English

Topic: Global Health Care Issues

Subfield: General Health Professions

Field: Health Professions

Domain: Health Sciences

Open Access status: diamond

OpenAlex ID: W4406766935

FWCI: 1.062

Cites:

Cited by: 2

Related to: 10