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Export Reference (APA) 
de Mello-Sampayo, F., Vale, S. & Camões, F. (2015). Substitutability between drugs, innovation, and fiscal policy in the pharmaceutical industry. Annals of Economics and Finance. 16 (2), 273-289
Export Reference (IEEE) 
F. D. Sampayo et al.,  "Substitutability between drugs, innovation, and fiscal policy in the pharmaceutical industry", in Ann. of Economics and Finance, vol. 16, no. 2, pp. 273-289, 2015
Export BibTeX 
@article{sampayo2015_1766261566724,
	author = "de Mello-Sampayo, F. and Vale, S. and Camões, F.",
	title = "Substitutability between drugs, innovation, and fiscal policy in the pharmaceutical industry",
	journal = "Annals of Economics and Finance",
	year = "2015",
	volume = "16",
	number = "2",
	pages = "273-289",
	url = "http://aeconf.com/"
}
Export RIS 
TY  - JOUR
TI  - Substitutability between drugs, innovation, and fiscal policy in the pharmaceutical industry
T2  - Annals of Economics and Finance
VL  - 16
IS  - 2
AU  - de Mello-Sampayo, F.
AU  - Vale, S.
AU  - Camões, F.
PY  - 2015
SP  - 273-289
SN  - 1529-7373
UR  - http://aeconf.com/
AB  - A theoretical model is developed in order to examine and explain the growth and welfare effects of fiscal policies in the pharmaceutical industry. When the fiscal instrument is a tax over pharmaceutical firms' profits, R&D by firms in the pharmaceutical sector results in growth if there is a generic market. Otherwise, a subsidy over pharmaceutical firms' profits should be considered to generate innovation in medicines. In terms of policy implications, our empirical results suggest that stimulating generic competition in the pharmaceutical sector is a main instrument to contain costs and promote welfare.
ER  -