| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12676 |
| 来源ID | Working Paper 12676 |
| European Pharmaceutical Price Regulation, Firm Profitability, and R&D Spending | |
| Joseph H. Golec; John A. Vernon | |
| 发表日期 | 2006-11-09 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | EU countries closely regulate pharmaceutical prices whereas the U.S. does not. This paper shows how price constraints affect the profitability, stock returns, and R&D spending of EU and U.S. firms. Compared to EU firms, U.S. firms are more profitable, earn higher stock returns, and spend more on research and development (R&D). Some differences have increased over time. In 1986, EU pharmaceutical R&D exceeded U.S. R&D by about 24 percent, but by 2004, EU R&D trailed U.S. R&D by about 15 percent. During these 19 years, U.S. R&D spending grew at a real annual compound rate of 8.8 percent, while EU R&D spending grew at a real 5.4 percent rate. Results show that EU consumers enjoyed much lower pharmaceutical price inflation, however, at a cost of 46 fewer new medicines introduced by EU firms and 1680 fewer EU research jobs. |
| 主题 | Health, Education, and Welfare ; Health ; Other ; Law and Economics ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w12676 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570338 |
| 推荐引用方式 GB/T 7714 | Joseph H. Golec,John A. Vernon. European Pharmaceutical Price Regulation, Firm Profitability, and R&D Spending. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12676.pdf（228KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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