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张琼:Effects of pharmaceutical price regulation:China's evidence between 1997 and 2008

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论文名称:Effects of pharmaceutical price regulation:China's evidence between 1997 and 2008

发表刊物:Journal of the Asia Pacific Economy, 20(2): 290-329

发表时间:2014年10月

论文作者:Binzhen Wu,Qiong Zhang, Xue Qiao

内容提要:

This study uses amacro-level data during the period between 1997 and 2008 to evaluate theeffects of China’s pharmaceuticalprice regulations. We find that the regulations exert short-run effects onpharmaceutical price indexes, reducing them by less than 0.5 percentage points.The effects can be slightly reinforced if the price regulations were to beapplied to more medicines. The price regulations fail to reduce householdhealth expenditures and the average profitability of the pharmaceutical industry.Moreover, firms on the break-even point are worse off after the implementation.Finally, although these regulations have no significant effects on the pricesof medicinal substitutes or complements, they increase the importation of expensivemedicines. These findings are also consistent with consumer perceptions of thepharmaceutical policies, based on the household survey data conducted in 2008.