Deconstructing the financialization of healthcare

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Abstract

Financialization is promoted by alliances of multilateral ‘development’ organisations, national governments, and owners and institutions of private capital. In the healthcare sector, the leveraging of private sources of finance is widely argued as necessary to achieve the Sustainable Development Goal 3 target of universal health coverage. Employing social science perspectives on financialization, we contend that this is a new phase of capital formation. We trace the antecedents, institutions, instruments and ideas that facilitated the penetration of private capital in this sector, and the emergence of new asset classes that distinguish it. We argue that this deepening of financialization represents a fundamental shift in the organizing principles for healthcare systems, with negative implications for health and equality.
Original languageEnglish
Pages (from-to)1263-1287
Number of pages25
JournalDEVELOPMENT AND CHANGE
Volume50
Issue number5
Early online date6 Jun 2019
DOIs
Publication statusPublished - 5 Sept 2019

Keywords

  • Development financing
  • health
  • UHC
  • private capital
  • investment

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