Abstract
PurposeThe economic shock posed by the current COVID-19 outbreak brought out a worldwide public health emergency with a close relationship between the industrial marketing practices, the health level of society and its economic development. The purpose of this study is to analyse the industrial dynamics in health care and their impact on economic growth and health status.Design/methodology/approachTo empirically investigate the relationship between growth and health, the authors use a data set drawn from 29 selected Organisation for Economic Co-operation and Development (OECD) countries over the period 2000 and 2019. Using panel regressions, the authors investigate the impact of the health-care industry measured in terms of health status, health expenditure, sales on pharmaceutical products, the number of persons working in health care and the coverage by private health insurances. Fixed effect and random effect regressions are used to estimate this model.FindingsOverall, the results are suggestive of a nexus between the industrial marketing dynamics of health-care context and economic growth – both interacting and improving each other. As the quality of the health-care market enhances, the economy grows richer and the health status of the population improves considerably.Practical implicationsTo support health-care markets in OECD countries, health policymakers need to formulate a long-term industrial health policy that addresses all the social and individual determinants of health.Originality/valueTo the best of the knowledge, this is the first study to provide a better understanding of the relationship between health-care industrial dynamics and economic growth in OECD countries along different dimensions.
Highlights
The industrial dynamics in health-care context has received increasing attention as a determinant of economic growth, both in developed and developing countries (Bloom et al, 2004, 2019; Piabuo and Tieguhong, 2017; Well, 2007)
The economic shock posed by the current COVID-19 outbreak, which continues to spread internationally causing a worldwide public health emergency is a demonstration of the close relationship between the health-care industrial performance, the health level of society and its economic development
We explore the industrial dynamics in health-care context and their impact on economic growth and health status in 29 selected Organisation for Economic Co-operation and Development (OECD) countries
Summary
The industrial dynamics in health-care context has received increasing attention as a determinant of economic growth, both in developed and developing countries (Bloom et al, 2004, 2019; Piabuo and Tieguhong, 2017; Well, 2007). This complex context (Hwang and Christensen, 2008; Schiavone and Simoni, 2019; Crick and Crick, 2020). Recent scholars have recognised that health-care industrial performance and economic growth are connected (Lee et al, 2011; Jamaludin et al, 2013). The economic shock posed by the current COVID-19 outbreak, which continues to spread internationally causing a worldwide public health emergency is a demonstration of the close relationship between the health-care industrial performance, the health level of society and its economic development. It requires action to deliver appropriate health and care services and reduce the occurrence of ill health
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