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Attributes of growth in the U.S. dental economy, 1950–89
Author(s) -
Cordes DW,
Doherty NJ
Publication year - 1991
Publication title -
journal of dental education
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.53
H-Index - 68
eISSN - 1930-7837
pISSN - 0022-0337
DOI - 10.1002/j.0022-0337.1991.55.10.tb02577.x
Subject(s) - supply and demand , per capita , economics , consumer demand , demographic economics , business , macroeconomics , market economy , medicine , environmental health , population
Previous research has established dentistry as a growth sector of the U.S. economy. This study examines the economic relationship between dentistry's growth and factors operating on the demand and supply sides of the dental market. Output, defined as real per capita dental expenditures, was hypothesized to be a function of consumer income, dental insurance and the supply of dentists. Data for the period 1950–89, were analyzed using a generalized least squares approach. The analysis supported the hypothesis, indicating a significant relationship between growth in the dental sector and economic market factors. The study concludes that dentistry's real growth since 1950 was: (1) induced by increases in demand, mainly attributable to insurance and to a lesser extent consumer incomes; and (2) supported by increases in supply. The findings provide support for the insurance hypothesis, which suggests that growth in dental insurance has had a significant impact on the dental economy in recent years.