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Pharmaceutical Price Regulation: Macro-Level Evidence from China between 1997 and 2008Binzhen WuTsinghua University - School of Economics & Management Qiong ZhangCentral University of Finance and Economics (CUFE) - School of Economics Xue QiaoTsinghua University - School of Economics & Management March 11, 2012 Abstract: This paper uses macro-level data between 1997 and 2008 to evaluate the effects of China’s pharmaceutical price regulations. We find that these regulations had short-run effects on medicine price indices, reducing them by less than 0.5 percentage points. The effects could have been slightly reinforced when these regulations were imposed on more medicines. However, these regulations failed to reduce household health expenditures and the average profitability of the pharmaceutical industry, and firms on the break-even edge were worse off. Finally, although these regulations had no significant effect on the price of substitute or complementary medicines, they increased expensive medicine imports.
Number of Pages in PDF File: 38 Keywords: Pharmaceutical price regulation, medicine price indices, health expenditure, pharmaceutical industry JEL Classification: I18, I11, L51 working papers seriesDate posted: March 12, 2012Suggested CitationContact Information
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