Public expenditure on health, economic growth and elasticity of substitution: Results for the Spanish economy, 1985-2003

Jesus Lopez-Rodriguez, Miguel Muñoz and Pablo César Muñoz

Lecturas de Economía, 2009, issue 70, 63-84

Abstract: This 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.

Keywords: Economic Growth; Elasticity of Substitution; CES Production Function; Public Expenditure on Health (search for similar items in EconPapers)
JEL-codes: I12 O11 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:lde:journl:y:2009:i:70:p:63-84

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