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KMID : 1170320060120020077
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Korean Journal of Health Economics and Policy
2006 Volume.12 No. 2 p.77 ~ p.105
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An Economic Analysis of Public Health Policies Using Economic Growth Models: A Case in Korea
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Jo Chang-Ik
Lim Jae-Young
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Abstract
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There are many avenues to clarify and evaluate the impacts of public policies which are administered by the government. In that sense, the effects of public health policies on population health will be identified in several ways. Firstly, investment in health through an array of policies will lead to improvement of health at all levels, and secondly, the improved health according to the key health indicators will reduce the socioeconomic costs incurred in sustaining and developing health status and thirdly, it will be efficiently utilized as an important contributor to economic growth through increased productivity. A myriad of researches show that the public health policies will eventually lead to not only improved health and quality of life, but also reduced healthcare costs associated with diseases and health problems both at individual and social levels so that economy will be able to achieve economic growth and development. Using micro and macro data analysis, our study aims to identify this possible channel from public health policies to economic growth finally show that public health policies lead to economic growth in terms of increase in real GDP.
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KEYWORD
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Health Policy, Socioeconomic Cost of Diseases, Economic Growth, Cost-Effectiveness
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