engleski

The evolving burden of disease – long term implications for economic development and health consciousness

Health is a precondition for the well-being of an individual and a crucial factor for a prosperous and productive society. Ill health generates losses in individual utility or social welfare, both directly (because individuals prefer to be more healthy than less healthy) and indirectly by lowering the satisfaction or utility associated with the consumption of goods and services not linked to health. Countries around the world are facing the double burden of disease, which creates economic losses stemming from both care for diseases and disabilities and lack of productivity. The goal of the paper is to evaluate the impact of disease burden on economic development. We base our empirical research on the panel vector autoregression model (PVAR) over the period 1970-2019 for the selected eighteen OECD countries. Our analysis shows that primarily due to lost productivity, burden of disease has a tenacious and long-lasting impact on economic development. A new approach through ‘P5’ medicine holds great promise to reduce the global burden of disease by efficient strategies, preventive measures, early detection, adequate treatment and consistent access to healthcare innovation.

Health ; burden of disease ; well-being ; economic development

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