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- Title
Patents and the Global Diffusion of New Drugs<sup>†</sup>.
- Authors
Cockburn, Iain M.; Lanjouw, Jean O.; Schankerman, Mark
- Abstract
Analysis of the timing of launches of 642 new drugs in 76 countries during 1983-2002 shows that patent and price regulation regimes strongly affect how quickly new drugs become commercially available in different countries. Price regulation delays launch, while longer and more extensive patent rights accelerate it. Health policy institutions and economic and demographic factors that make markets more profitable also speed up diffusion. The estimated effects are generally robust to controlling for endogeneity of policy regimes with country fixed effects and instrumental variables. The results highlight the important role of policy choices in driving the diffusion of new innovations. (JEL I18, L11, L51, L65, O31, O33, O34)
- Subjects
UNITED States; DRUG patents; DRUG accessibility; PRICE regulation; DRUG prices; HEALTH policy; TECHNOLOGICAL innovations &; economics; GOVERNMENT policy -- Social aspects; AGREEMENT on Trade-Related Aspects of Intellectual Property Rights (1994); ECONOMICS
- Publication
American Economic Review, 2016, Vol 106, Issue 1, p136
- ISSN
0002-8282
- Publication type
Article
- DOI
10.1257/aer.20141482