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Broadening the definition of healthcare products in global trade: Insights from a new classification

Author

Listed:
  • Pierre Cotterlaz

    (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique)

  • Guillaume Gaulier

    (CEPII - Centre d'Etudes Prospectives et d'Informations Internationales - Centre d'analyse stratégique, Centre de recherche de la Banque de France - Banque de France)

  • Aude Sztulman

    (DIAL - Développement, institutions et analyses de long terme, LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique)

  • Deniz Ünal

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, CEPII - Centre d'Etudes Prospectives et d'Informations Internationales - Centre d'analyse stratégique)

Abstract

International trade in healthcare products took off during the 2000s, paralleling the peak of hyper-globalisation. Two decades later, the Covid-19 pandemic highlighted the importance of health security for governments. This crisis brought issues of industrial sovereignty to the forefront and exposed vulnerabilities within global production networks. However, the intricate web of global value chains has compromised the traceability of these essential goods. Additionally, the classification of healthcare products across multiple industries in standard trade and production nomenclatures complicates their identification and further obscures the analysis. In this paper, we systematically identify products that address the needs of national health systems and gather them into a single industry grouping to evaluate the scale and trends in trade. This healthcare industry grouping, encompassing a broad array of products—medicinal products and their compounds, medical technology equipment, and small medical materials— has demonstrated the highest relative growth among all industry groupings since 2000. Our study provides a detailed examination of the nature of global trade in the healthcare industry grouping and its five branches, categorized by production stage (intermediate and final) and quality/price range. We analyze the positioning of advanced economies in comparison to the rest of the world and offer insights into the geographical and geopolitical breakdowns of healthcare industry trade, both within and between country blocs.

Suggested Citation

  • Pierre Cotterlaz & Guillaume Gaulier & Aude Sztulman & Deniz Ünal, 2024. "Broadening the definition of healthcare products in global trade: Insights from a new classification," SciencePo Working papers Main hal-04904344, HAL.
  • Handle: RePEc:hal:spmain:hal-04904344
    DOI: 10.1016/j.inteco.2024.100561
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    References listed on IDEAS

    as
    1. Pierre Cotterlaz & Guillaume Gaulier & Aude Sztulmac & Deniz nal, 2024. "Pioneering a New Classification: a Comprehensive Study of Healthcare Products in Global Trade," Working papers 963, Banque de France.
    2. Evenett,Simon J. & Hoekman,Bernard M. & Rocha,Nadia & Ruta,Michele, 2021. "The Covid-19 Vaccine Production Club : Will Value Chains Temper Nationalism?," Policy Research Working Paper Series 9565, The World Bank.
    3. Guillaume Gaulier & Aude Sztulman & Deniz Ünal, 2020. "Are global value chains receding? The jury is still out. Key findings from the analysis of deflated world trade in parts and components," International Economics, CEPII research center, issue 161, pages 219-236.
    4. Chad P. Bown & Thomas J. Bollyky, 2022. "How COVID‐19 vaccine supply chains emerged in the midst of a pandemic," The World Economy, Wiley Blackwell, vol. 45(2), pages 468-522, February.
    5. Gaulier, Guillaume & Sztulman, Aude & Ünal, Deniz, 2020. "Are global value chains receding? The jury is still out. Key findings from the analysis of deflated world trade in parts and components," International Economics, Elsevier, vol. 161(C), pages 219-236.
    6. Helble, Matthias & Shepherd, Benjamin, 2017. "Trade in Health Products: Reducing Trade Barriers for Better Health," ADBI Working Papers 643, Asian Development Bank Institute.
    7. Arvind Subramanian & Martin Kessler, 2013. "The Hyperglobalization of Trade and Its Future," Working Paper Series WP13-6, Peterson Institute for International Economics.
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    More about this item

    Keywords

    Healthcare products; International trade; Advanced economies; Emerging and developing economies;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics

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