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Property Rights on Biodiversity and the Pharmaceutical Industry


Author Info

  • Chichilnisky, Graciela


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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Bibliographic Info

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

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Date of creation: 1993
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Handle: RePEc:pra:mprapa:8330

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Related research

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;

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References listed on IDEAS
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.:
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  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. repec:fth:coluec:557 is not listed on IDEAS
  3. repec:fth:coluec:644 is not listed on IDEAS
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