Major 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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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
8330.
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
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