Designing the Financial Tools to Promote Universal Access to AIDS Care
AbstractWe argue that reluctance to invest in drug treatments to fight the AIDS epidemics in developing countries is largely motivated by severe losses occurring from the future albeit uncertain appearance of a curative vaccine. We design a set of securities generating full insurance coverage against such losses, while achieving full risk-sharing with vaccine development agencies. In a general equilibrium framework, we show that those securities are demanded to improve social welfare in developing countries, to increase current investment in treatments and the provision of public goods. Even though designed foi AIDS, those securities can also be applied to other epidemics such as Malaria and Tuberculosis.
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Bibliographic InfoPaper provided by Department of Economics, Finance and Accounting, National University of Ireland - Maynooth in its series Economics, Finance and Accounting Department Working Paper Series with number n1711106.
Length: 36 pages
Date of creation: 2006
Date of revision:
HIV/Aids funding; security design; therapeutic innovation; health underinvestment; HIV/Aids vaccine;
Find related papers by JEL classification:
- I1 - Health, Education, and Welfare - - Health
- I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
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