2023-09-28 14:46:10 +00:00
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abstract: 'The paper develops a three-sector full-employment general equilibrium
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model for a small open developing economy with exogenous labour market
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imperfection and a non-traded sector providing healthcare services, the
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consumption of which generates positive externalities. Our main
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objective is :to show that the optimal consumption subsidy to
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healthcare, if solely judged from the standpoint of economic growth, is
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strictly positive (zero) when the production technology of the
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healthcare sector is of the variable (fixed) coefficient type. However,
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in the variable coefficient case, the optimal per capita expenditure on
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healthcare crucially hinges on the degree of labour market imperfection
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and the quality of services provided by the healthcare sector. The
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latter result can possibly be considered as a theoretical justification
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why the magnitude of per capita public spending on healthcare services
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is significantly lower in the developing countries compared to that in
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the developed nations. Besides, using the Sen''s (1974) index of social
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welfare that takes into consideration both the growth and income
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inequality aspects, we have proved that the optimal health subsidy is
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positive irrespective of the nature of production technology of the
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healthcare sector. Furthermore, most of these results are found to be
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valid even in the presence of Harris-Todaro type unemployment. Finally,
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the results lead to a few important policy implications in the context
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of the developing countries.'
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affiliation: 'Chaudhuri, S (Corresponding Author), Univ Calcutta, Dept Econ, Kolkata,
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W Bengal, India.
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Chaudhuri, Sarbajit, Univ Calcutta, Dept Econ, Kolkata, W Bengal, India.
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Dwibedi, Jayanta Kumar, BKC Coll, Dept Econ, Kolkata, India.
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Biswas, Anindya, Spring Hill Coll, Div Business, Mobile, AL USA.'
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author: Chaudhuri, Sarbajit and Dwibedi, Jayanta Kumar and Biswas, Anindya
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author-email: 'sarbajitch19@gmail.com
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jayantadw@rediffmail.com
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abiswas@shc.edu'
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author_list:
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- family: Chaudhuri
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given: Sarbajit
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- family: Dwibedi
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given: Jayanta Kumar
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- family: Biswas
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given: Anindya
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da: '2023-09-28'
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doi: 10.1016/j.econmod.2017.04.011
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eissn: 1873-6122
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files: []
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issn: 0264-9993
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journal: ECONOMIC MODELLING
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keywords: 'Consumption externality; Healthcare; Efficiency of labour; Health
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subsidy; Sen''s (1974) welfare index; Developing countries; General
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equilibrium'
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keywords-plus: DEVELOPING-ECONOMY; WELFARE; GROWTH; GOODS
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language: English
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month: AUG
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number-of-cited-references: '29'
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orcid-numbers: Chaudhuri, Sarbajit/0000-0003-1471-0460
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pages: 539-552
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papis_id: 54fafd0a0064c0c3eb13d80f9127a174
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ref: Chaudhuri2017subsidizinghealthcar
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researcherid-numbers: 'CHAUDHURI, Sarbajit/AAE-6343-2019
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'
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times-cited: '4'
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title: Subsidizing healthcare in the presence of market distortions
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000405052600046
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usage-count-last-180-days: '0'
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usage-count-since-2013: '10'
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volume: '64'
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web-of-science-categories: Economics
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year: '2017'
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