IDEAS home Printed from https://ideas.repec.org/a/eee/indorg/v84y2022ics0167718722000340.html
   My bibliography  Save this article

Which policies for vaccine innovation and delivery in Europe?

Author

Listed:
  • Dewatripont, Mathias

Abstract

This paper analyzes the subsequent steps of the covid vaccine experience in the European Union. It stresses the features of the US innovation ecosystem which were responsible for its success. It argues that the European Union did reasonably well in procuring vaccines and logistically organizing their delivery but that vaccine hesitancy proved to be a key constraint. The paper discusses European countries’ vaccination strategies and their plusses and minusses. Finally, it draws some lessons for dealing with the tradeoff between drug and vaccine innovation and affordability, an issue whose importance is bound to grow with promising but costly scientific advances.

Suggested Citation

  • Dewatripont, Mathias, 2022. "Which policies for vaccine innovation and delivery in Europe?," International Journal of Industrial Organization, Elsevier, vol. 84(C).
    • Handle: RePEc:eee:indorg:v:84:y:2022:i:c:s0167718722000340
    DOI: 10.1016/j.ijindorg.2022.102858
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0167718722000340
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ijindorg.2022.102858?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Philippe Aghion & Jing Cai & Mathias Dewatripont & Luosha Du & Ann Harrison & Patrick Legros, 2022. "Industrial Policy and Competition," World Scientific Book Chapters, in: Globalization, Firms, and Workers, chapter 15, pages 349-380, World Scientific Publishing Co. Pte. Ltd..
    2. Miquel Oliu-Barton & Bary S. R. Pradelski & Nicolas Woloszko & Lionel Guetta-Jeanrenaud & Philippe Aghion & Patrick Artus & Arnaud Fontanet & Philippe Martin & Guntram B. Wolff, 2022. "The effect of COVID certificates on vaccine uptake, health outcomes, and the economy," Nature Communications, Nature, vol. 13(1), pages 1-13, December.
    3. Emmanuelle Auriol & Claude Crampes & Antonio Estache, 2021. "Regulating public services, bridging the gap between theory and practice," Post-Print hal-03473074, HAL.
    4. Philippe Aghion & Mathias Dewatripont & Jeremy C. Stein, 2008. "Academic freedom, private‐sector focus, and the process of innovation," RAND Journal of Economics, RAND Corporation, vol. 39(3), pages 617-635, September.
    5. Dewatripont, Mathias & Roland, Gerard, 1995. "The Design of Reform Packages under Uncertainty," American Economic Review, American Economic Association, vol. 85(5), pages 1207-1223, December.
    6. Alexander Karaivanov & Dongwoo Kim & Shih En Lu & Hitoshi Shigeoka, 2022. "COVID-19 vaccination mandates and vaccine uptake," Nature Human Behaviour, Nature, vol. 6(12), pages 1615-1624, December.
    7. Philippe Aghion & Guntram B. Wolff & Philippe Martin & Lionel Guetta-Jeanrenaud & Bary Pradelski & Miquel Oliu-Barton & Nicolas Woloszko & Patrick Artus & Arnaud Fontanet, 2022. "The effect of COVID certificates on vaccine uptake, public health, and the economy," Bruegel Working Papers 46695, Bruegel.
    8. Dewatripont, M & Roland, G, 1992. "The Virtues of Gradualism and Legitimacy in the Transition to a Market Economy," Economic Journal, Royal Economic Society, vol. 102(411), pages 291-300, March.
    9. Hart, Oliver, 1995. "Firms, Contracts, and Financial Structure," OUP Catalogue, Oxford University Press, number 9780198288817, Decembrie.
    10. Michael Kremer & Jonathan Levin & Christopher M. Snyder, 2022. "Designing Advance Market Commitments for New Vaccines," Management Science, INFORMS, vol. 68(7), pages 4786-4814, July.
    11. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, December.
    12. Colleen Cunningham & Florian Ederer & Song Ma, 2021. "Killer Acquisitions," Journal of Political Economy, University of Chicago Press, vol. 129(3), pages 649-702.
    13. Bengt Holmstrom & Steven N. Kaplan, 2001. "Corporate Governance and Merger Activity in the United States: Making Sense of the 1980s and 1990s," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 121-144, Spring.
    14. Mathias Dewatripont, 2021. "Vaccination Strategies in the Midst of an Epidemic," Working Papers ECARES 2021-22, ULB -- Universite Libre de Bruxelles.
    15. Bolton, Patrick & Farrell, Joseph, 1990. "Decentralization, Duplication, and Delay," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 803-826, August.
    16. Matias Covarrubias & Germán Gutiérrez & Thomas Philippon, 2019. "From Good to Bad Concentration? US Industries over the Past 30 Years," NBER Chapters, in: NBER Macroeconomics Annual 2019, volume 34, pages 1-46, National Bureau of Economic Research, Inc.
    17. Jan De Loecker & Jan Eeckhout & Gabriel Unger, 2020. "The Rise of Market Power and the Macroeconomic Implications [“Econometric Tools for Analyzing Market Outcomes”]," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(2), pages 561-644.
    18. Reinhilde Veugelers, 2021. "mRNA vaccines- a lucky shot?," Bruegel Working Papers 46292, Bruegel.
    19. Patricia M. Danzon, 2018. "Differential Pricing of Pharmaceuticals: Theory, Evidence and Emerging Issues," PharmacoEconomics, Springer, vol. 36(12), pages 1395-1405, December.
    20. Margaret K. Kyle, 2007. "Pharmaceutical Price Controls and Entry Strategies," The Review of Economics and Statistics, MIT Press, vol. 89(1), pages 88-99, February.
    21. Auriol,Emmanuelle & Crampes,Claude & Estache,Antonio, 2021. "Regulating Public Services," Cambridge Books, Cambridge University Press, number 9781108833950, December.
    22. Bengt Holmstrom & Steven N. Kaplan, 2001. "Corporate Governance and Merger Activity in the U.S.: Making Sense of the 1980s and 1990s," NBER Working Papers 8220, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Isabel Helmrath & Matthias Hunold & Johannes Muthers, 2022. "Joint procurement by heterogeneous buyers," Economics working papers 2022-14, Department of Economics, Johannes Kepler University Linz, Austria.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mathias Dewatripont, 2022. "Which Policies for Vaccine Innovation and Delivery in Europe ?," Working Papers ECARES 2022-14, ULB -- Universite Libre de Bruxelles.
    2. François, Abel & Gergaud, Olivier & Noury, Abdul, 2023. "Can health passport overcome political hurdles to COVID-19 vaccination?," European Journal of Political Economy, Elsevier, vol. 80(C).
    3. Reddinger, J. Lucas & Charness, Gary & Levine, David, 2024. "Vaccination as personal public-good provision," Journal of Economic Behavior & Organization, Elsevier, vol. 224(C), pages 481-499.
    4. Hong Bo & Ciaran Driver, 2012. "Agency Theory, Corporate Governance and Finance," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 11, Edward Elgar Publishing.
    5. Nguyen, Manh-Hung & Hoang, Viet-Ngu & Nghiem, Son & Nguyen, Lan Anh, 2024. "The Dynamic and Heterogeneous Effects of COVID-19 Vaccination Mandates in the USA," TSE Working Papers 24-1598, Toulouse School of Economics (TSE).
    6. Gutiérrez, Germán & Jones, Callum & Philippon, Thomas, 2021. "Entry costs and aggregate dynamics," Journal of Monetary Economics, Elsevier, vol. 124(S), pages 77-91.
    7. Santolini, Raffaella, 2023. "The COVID-19 green certificate’s effect on vaccine uptake in French and Italian regions," Journal of Policy Modeling, Elsevier, vol. 45(5), pages 1036-1057.
    8. David Martimort & Flavio Menezes & Myrna Wooders & ELISABETTA IOSSA & DAVID MARTIMORT, 2015. "The Simple Microeconomics of Public-Private Partnerships," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 17(1), pages 4-48, February.
    9. David Martimort & Aggey Semenov & Lars Stole, 2017. "A Theory of Contracts with Limited Enforcement," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 84(2), pages 816-852.
    10. J. Veldwijk & J. Exel & E. W. Bekker-Grob & N. Mouter, 2023. "Public Preferences for Introducing a COVID-19 Certificate: A Discrete Choice Experiment in the Netherlands," Applied Health Economics and Health Policy, Springer, vol. 21(4), pages 603-614, July.
    11. Jackie Krafft, 2006. "Business history and the organization of industry," Post-Print hal-00211780, HAL.
    12. Patrick Gonzàlez, 2004. "Investment and Screening Under Asymmetric Endogenous Information," RAND Journal of Economics, The RAND Corporation, vol. 35(3), pages 502-519, Autumn.
    13. Zhiyong Liu & Yue Qiao, 2012. "Abuse of Market Dominance Under China’s 2007 Anti-monopoly Law: A Preliminary Assessment," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 41(1), pages 77-107, August.
    14. Jiahua Che & Giovanni Facchini, 2004. "Dual Track Liberalization: With and Without Losers," William Davidson Institute Working Papers Series 2004-669, William Davidson Institute at the University of Michigan.
    15. Mathias Dewatripont & Patrick Legros, 2005. "Public-private partnerships: contract design and risk transfer," ULB Institutional Repository 2013/175947, ULB -- Universite Libre de Bruxelles.
    16. Micael Castanheira & Gaëtan Nicodème & Paola Profeta, 2012. "On the political economics of tax reforms: survey and empirical assessment," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 19(4), pages 598-624, August.
    17. Quintero Jaramillo, Jose E., 2004. "Liquidity constraints and credit subsidies in auctions," DEE - Working Papers. Business Economics. WB wb040604, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    18. Fernández-Villaverde, Jesús & Mandelman, Federico & Yu, Yang & Zanetti, Francesco, 2021. "The “Matthew effect” and market concentration: Search complementarities and monopsony power," Journal of Monetary Economics, Elsevier, vol. 121(C), pages 62-90.
    19. Jeon, Doh-Shin & Menicucci, Domenico, 2008. "Money, fame and the allocation of talent: Brain drain and the institution of science," Journal of Economic Behavior & Organization, Elsevier, vol. 66(3-4), pages 558-581, June.
    20. Patricia M. Danzon & Eric L. Keuffel, 2014. "Regulation of the Pharmaceutical-Biotechnology Industry," NBER Chapters, in: Economic Regulation and Its Reform: What Have We Learned?, pages 407-484, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    Vaccine innovation; Covid-19; Innovation ecosystem; Vaccine hesitancy; Drug prices; European health policy;
    All these keywords.

    JEL classification:

    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:indorg:v:84:y:2022:i:c:s0167718722000340. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/505551 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.