Endogenous innovations in the pharmaceutical industry

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dc.contributor.authorCerda, Rodrigo A.
dc.date.accessioned2025-01-21T01:05:27Z
dc.date.available2025-01-21T01:05:27Z
dc.date.issued2007
dc.description.abstractThis paper addresses the creation of new products in the US pharmaceutical sector, during the second half of the 20th century. We indicate that the continuous increases in population, and thus in the market size of this sector, play a fundamental role in explaining the large creation of new drugs during that period. We also argue that population and market size can be endogenously determined through the impact of drugs over the mortality rate. Hence, these two effects reinforce each other, producing decrements in the mortality rate and increments in the stock of drugs over time. We obtained the set of new molecular entities approved by the FDA during the second half of the 20th century and we decomposed the data in a panel of 15 therapeutic categories over time. Using this data, we tested our hypotheses using different econometric methods. The results support the hypothesis and are consistent across methods.
dc.fuente.origenWOS
dc.identifier.doi10.1007/s00191-007-0059-3
dc.identifier.issn0936-9937
dc.identifier.urihttps://doi.org/10.1007/s00191-007-0059-3
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/95927
dc.identifier.wosidWOS:000247786000005
dc.issue.numero4
dc.language.isoen
dc.pagina.final515
dc.pagina.inicio473
dc.revistaJournal of evolutionary economics
dc.rightsacceso restringido
dc.subjectendogenous innovations
dc.subjectpharmaceutical industry
dc.subjectpopulation
dc.subjectmarket size
dc.subject.ods03 Good Health and Well-being
dc.subject.odspa03 Salud y bienestar
dc.titleEndogenous innovations in the pharmaceutical industry
dc.typeartículo
dc.volumen17
sipa.indexWOS
sipa.trazabilidadWOS;2025-01-12
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