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Property Rights on Biodiversity and the Pharmaceutical Industry

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  • Chichilnisky, Graciela

Abstract

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.

Suggested Citation

  • Chichilnisky, Graciela, 1993. "Property Rights on Biodiversity and the Pharmaceutical Industry," MPRA Paper 8330, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:8330
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    File URL: https://mpra.ub.uni-muenchen.de/8330/1/MPRA_paper_8330.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. Chichilnisky, G., 1993. "Global Environment and North-South Trade," Papers 93-16, Columbia - Graduate School of Business.
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    Cited by:

    1. Paunić, Alida, 2016. "Brazil, Preservation of Forest and Biodiversity," MPRA Paper 71462, University Library of Munich, Germany.

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    More about this item

    Keywords

    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;
    All these keywords.

    JEL classification:

    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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