Bosi, Stefano and Laurent, Thierry (2011): Health, growth and welfare: a theoritical appraisal of the long run impact of medical R&D. Forthcoming in:
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This paper aims at providing a simple economic framework to address the question of the optimal share of investments in medical R&D in total public spending. In order to capture the long-run impact of tax-financed medical R&D on the growth rate, we develop an endogenous growth model in the spirit of Barro . The model focuses on the optimal sharing of public resources between consumption and (non-health) investment, medical R&D and other health expenditures. It emphasizes the key role played by the public health-related R&D in enhancing economic growth and welfare in the long run.
|Item Type:||MPRA Paper|
|Original Title:||Health, growth and welfare: a theoritical appraisal of the long run impact of medical R&D|
|Keywords:||Public health ; Medical R&D; Public spending; Endogenous growth|
|Subjects:||H - Public Economics > H5 - National Government Expenditures and Related Policies > H51 - Government Expenditures and Health
I - Health, Education, and Welfare > I1 - Health > I18 - Government Policy; Regulation; Public Health
H - Public Economics > H2 - Taxation, Subsidies, and Revenue > H23 - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development; Intellectual Property Rights > O31 - Innovation and Invention: Processes and Incentives
|Depositing User:||THIERRY LAURENT|
|Date Deposited:||29. Sep 2011 12:10|
|Last Modified:||12. Feb 2013 05:42|
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