The Importance of Global Health Investment

September 29, 2015

One of the things I am proudest of having done in Washington was having the idea as Chief Economist of the World Bank that the Bank should devote its annual World Development Report to making the case for improving both the quantity and quality of global health investment. The 1993 report produced by a team led by Dean Jamison proved more influential than I could have hoped, not least because it drew Bill Gates into the global health arena.

The Report made a strong case that the benefits of the right health investments far exceed the costs. Indeed, I believe the moral and economic case for investments in health care—both prevention and treatment—is as or more compelling than in any other area in the developing world. The dramatic declines in child mortality and increases in life expectancy demonstrate that policy can make an immense difference.

Dean and I chaired a commission, timed to coincide with the 20th anniversary of the initial report, under the aegis of the LANCET. The commission took stock of the remarkable progress made over the last 20 years and emphasized what is possible over the next generation.

The primary conclusion of our commission was that our generation has the opportunity to achieve a “grand convergence” in global health reducing preventable maternal, child, and infectious diseases to universally low levels by 2035. We further concluded that the necessary investments would have benefits that exceeded their costs by a factor of 10. But we cautioned that grand convergence would not just happen. It would require commitments to health system reform and to new domestic and international resources that go well beyond what is in place today.

All of this seems immensely relevant as world leaders gather in New York to agree on a bold new global agenda for sustainable development. The breadth of ambition embodied in the 17 Sustainable Development Goals and the associated 169 targets is truly inspiring and a tribute to the moral energy of many leaders in and out of government.

But there is the risk that with so many priorities, there will be insufficient focus on the most important and achievable objectives. I was therefore excited when the Rockefeller Foundation asked me to work with them to develop a Declaration that a broad spectrum of economists could issue underscoring the importance of global health efforts. The 266 economists who have joined our declaration come from 44 countries and at least as many political and ideological perspectives. But they are united in their belief in the importance of expanding and improving health care globally.

Our Declaration was published in the LANCET and summarized in a full page New York Times ad. I hope the world listens. Millions of lives are at stake.

Note: A version of this blog post originally appeared on; the original can be read here.


CGD blog posts reflect the views of the authors, drawing on prior research and experience in their areas of expertise. CGD is a nonpartisan, independent organization and does not take institutional positions.