Aula, Kollegienhaus, University of Basel
CIEB & Innoscape
How important is Home-Market Size for Research in the Pharmaceutical Industry, and beyond?
Switzerland is one of the leading locations for research and innovation particularly, but not only, in the pharmaceutical industry. This lecture focuses on the importance of domestic demand and, more specifically, on home market size in shaping the pattern of successful research and thus international trade within industries. It turns out that home-market size is important, even in a small country such as Switzerland.
Prof. Dave Donaldson recently published a paper with the provocative title “The more we die, the more we sell?” (Quarterly Journal of Economics) which explores the relationship between home-market size and exports. His findings together with co-authors will serve as a basis for the discussion of whether and in which way the home market is important for research in the pharmaceutical industry, but also in other industries. This has implications for economic policy-making.
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