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Advance Market Commitments: Insights from Theory and Experience

Author

Listed:
  • Michael Kremer
  • Jonathan D. Levin
  • Christopher M. Snyder

Abstract

Ten years ago, donors committed $1.5 billion to a pilot Advance Market Commitment (AMC) to help purchase pneumococcal vaccine for low-income countries. The AMC aimed to encourage the development of such vaccines, ensure distribution to children in low-income countries, and pilot the AMC mechanism for possible future use. Three vaccines have been developed and more than 150 million children immunized, saving an estimated 700,000 lives. This paper reviews the economic logic behind AMCs, the experience with the pilot, and key issues for future AMCs.

Suggested Citation

  • Michael Kremer & Jonathan D. Levin & Christopher M. Snyder, 2020. "Advance Market Commitments: Insights from Theory and Experience," NBER Working Papers 26775, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:26775
    Note: CH DEV EH IO LE PE POL PR
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    JEL classification:

    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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