European Business Schools Librarian's Group

ESSEC Working Papers,
ESSEC Research Center, ESSEC Business School

No WP2005: COVID-19 mortality and health expenditures across European countries: The positive correlation puzzle

Serge Blondel () and Radu Vranceanu ()
Additional contact information
Serge Blondel: Université d'Angers
Radu Vranceanu: ESSEC Research Center, ESSEC Business School, Postal: ESSEC Research Center, BP 105, 95021 Cergy, France

Abstract: The positive correlation between health share expenditures and COVID-19 cumulative case fatalities in a cross-section of 31 European countries is puzzling. The positive relationships is also detected in weighted OLS and IV models that control for many usual suspects of the COVID-19 mortality: (1) health indicators (personal risk factors, medical resources), (2) virus ease of circulation, (3) macroeconomic variables related to the economic development and social orientation of the country. COVID-19 case fatalities are lower in countries with significant resources dedicated to health care (hospital beds and medical doctors); the contribution of virus circulation factors is less significant. Policy implications follow.

Keywords: COVID-19; health care systems; Europe; efficiency; mortality; health policy

JEL-codes: H12; I18

13 pages, First version: August 1, 2020. Revised: August 1, 2020.

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