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Health care expenditure growth determinants and the role of R&D expenditure in sciences
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This paper studies global R&D investment as a novel variable to proxy for technological
advances as a determinant of HCE growth with data from 1970 onwards of 35 OECD
countries. The aggregate decade averages of OECD countries’ expenditure on R&D in
sciences have a negative and significant relation with HCE growth. R&D investments may be
contributing to the reduction of HCE growth. This challenges the view that innovation solely
contributes to increasing growth of HCE and allows for the possibility of opposing effects.
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Health care expenditure Expenditure growth R&D spending Technologicalinnovation