Economic Analysis: Theory and Practice
 

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Evaluating the social and economic efficiency of investment in high-tech perinatal centers considering the learning curve effect

Vol. 18, Iss. 8, AUGUST 2019

Received: 15 May 2019

Received in revised form: 29 May 2019

Accepted: 14 June 2019

Available online: 30 August 2019

Subject Heading: EVALUATION OF INVESTMENT PROJECTS

JEL Classification: С23, H43, H54, I18

Pages: 1448–1463

https://doi.org/10.24891/ea.18.8.1448

Ginoyan A.B. Financial University under Government of Russian Federation, Moscow, Russian Federation
mweneli89@gmail.com

https://orcid.org/0000-0003-4513-3635

Mel'nikov R.M. Russian Presidential Academy of National Economy and Public Administration, Moscow, Russian Federation
rmmel@mail.ru

ORCID id: not available

Subject We provide a quantitative assessment of socio-economic efficiency of investment in the creation of perinatal centers under Russian conditions.
Objectives The purpose is to study the impact of the program for creating high-tech children's perinatal centers in Russian regions on changes in maternal and infant mortality rates and social well-being.
Methods We apply the regression analysis of panel data on infant and maternal mortality rates in Russian regions, which enables to assess the effect of commissioning a perinatal center while monitoring other factors, and compare the costs and benefits of investing in the creation of a perinatal center during the life cycle of the project.
Results We show that the opening of high-tech children's perinatal centers in Russian regions as part of the implementation of the Health national project, resulted in a reduction in infant mortality rate by 10 percent and maternal mortality by 15 percent. The study reveals the effect of the learning curve, which is to improve the quality of work of the perinatal center's staff as experience with high-tech medical equipment is gained, and the contribution of the center to the decline in infant and maternal mortality in the region, as the useful life increases.
Conclusions Solid investment in the implementation of the program for creating perinatal centers in the Russian regions as a whole are justified. However, the monetized benefits of this capital-intensive program are moderate.

Keywords: perinatal center, learning curve, human life value, health infrastructure, return on investment

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