Property Rights on Biodiversity and the Pharmaceutical Industry
AbstractMajor pharmaceutical companies such as Smith Kline Beecham, Merck, Glaxo and Lilly, and a score of smaller ones, are developing profitable business opportunities in the world's forest while preserving biodiversity and producing incentives for leaving the forests intact. This case study covers the business relationships between Merck and Co. and In Bio in Costa Rica, and the activities of Shaman Pharmaceuticals in Latin America and Africa. It provides the details, discusses what each party expects from these deals, and explores the connections with securitization and with issues of corporate responsibility towards the environment. The study explains the properties of externalities, which are typical of markets involving environmental assets, and the use of property rights in inducing efficient market solutions and corporate social responsibility.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 8330.
Date of creation: 1993
Date of revision:
biodiversity; natural resources; case study; pharmaceuticals; developing countries; Central America; Latin America; South America; securitization; environmental assets; property rights; efficiency; market solutions; corporate responsibility; social; environmental; international partnership; financial markets;
Find related papers by JEL classification:
- N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
- P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy
- Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Chichilnisky, Graciela, 1993.
"North-South trade and the dynamics of renewable resources,"
Structural Change and Economic Dynamics,
Elsevier, vol. 4(2), pages 219-248, December.
- Chichilnisky, G., 1993. "North-South Trade and the Dynamics of Renewable Resources," Discussion Papers 1993_02, Columbia University, Department of Economics.
- Chichilnisky, G., 1993. "North-South Trade and the Dynamics of Renewable Resources," Papers 93-15, Columbia - Graduate School of Business.
- repec:fth:coluec:557 is not listed on IDEAS
- repec:fth:coluec:644 is not listed on IDEAS
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