Global and National Market Trends, 1950–2019

AbstractAnnual growth trends for 21 OECD countries and 22 emerging market economies are examined. A surge in growth attributable to postwar investments in hospitals, research, and professional training can be seen in most OECD countries, followed by a moderation trending downward toward a rate of GDP +1% or less after 1975. A useful benchmark for international comparisons is provided by the level and rate of growth in the median health share among OECD countries. Other nations usually have lower expenditures, but several have expanded rapidly in the 21st century. The global distribution of health spending has changed significantly since 1950. International comparisons show that convergence is a complex and somewhat unresolved empirical issue.