What helps the development of new vaccine products : an economic analysis of R&D spending in the vaccine industry, the productivity of biotechnological research and related issues in science and technology policy

Kramer, S. 2002. What helps the development of new vaccine products : an economic analysis of R&D spending in the vaccine industry, the productivity of biotechnological research and related issues in science and technology policy. PhD thesis University of Westminster Westminster Business School

TitleWhat helps the development of new vaccine products : an economic analysis of R&D spending in the vaccine industry, the productivity of biotechnological research and related issues in science and technology policy
TypePhD thesis
AuthorsKramer, S.
Abstract

This thesis was motivated by concern regarding an alleged lack of investment

in research and development of vaccine products which could offer

considerable net benefit to societies, particularly in the developing world. The

aim of this thesis is to provide decision support for science and technology

policy which aims to promote private research and development in new

vaccine products.

The literature suggests that markets fail to allocate sufficient resources to the

development of new vaccines. Science policy can attempt to influence the

direction of research through government subsidies, targeted fiscal support,

regulatory measures or policies designed to influence human capital

formation.

In order to assess the effectiveness of these measures in the context of the

vaccine industry a R&D resource allocation model is empirically tested in

Chapter Six. In a partial adjustment specification and error correction form, a

relationship between the cost of funds and the allocation of R&D resources

could be established for the US vaccine industry over a twenty five year

period. It was also found that public sector research effort does not appear to

'crowd out' private sector R&D spending. Other factors emphasised in the

literature, such as the relative market size and improvements in patent

protection, were not significantly related to research intensity.

In the Second Part of this thesis the scope has been extended to include firms

in the biotechnology industry which play an important role in vaccine

innovation. The focus of research in Chapters Seven and Eight is on

collaborative research which is believed to be a particularly productive way to

bring new vaccines to the market.

In an empirical investigation of established US biotech firms it was suggested

that companies which undertake more science or co-operate more closely

with universities than their competitors are likely to show a higher level of research productivity. What could not be established is whether scientific

activity results in superior research outcomes or whether successful

companies attract star scientists who are more likely to publish the results of

their work.

This emphasises the importance of the promotion of scientific talent and the

movement of scientists between the public and private sectors and

internationally. It is suggested in Chapter Nine that the institutional structure of

higher education has an important effect on the mobility of scientists: a

country which imports highly-skilled personnel may maintain or improve its

technological capabilities by this means. Using data from the British Higher

Education Statistics Agency (HESA) it is suggested that contrary to belief,

disciplines such as biological sciences experience a moderate net inflow of

scientists from the private sector and abroad.

Year2002
FileKramer.pdf
Publication dates
Completed2002

Related outputs

Knowledge flow and research success in established biotechnology companies
Kramer, S. 2002. Knowledge flow and research success in established biotechnology companies. Global Competitiveness. 10 (2), pp. 99-114.

High tech manufacturing and economic growth in the APEC region: how important is absorptive capacity?
Di Pietro, G., Kramer, S. and Urwin, P.J. 2002. High tech manufacturing and economic growth in the APEC region: how important is absorptive capacity? APEC Review. 9 (1), pp. 117-139.

Highly skilled labour mobility, skills shortages and immigration policy in Britain and Germany
Shackleton, J.R. and Kramer, S. 2001. Highly skilled labour mobility, skills shortages and immigration policy in Britain and Germany. in: Gabriel, J. and Neugart, M. (ed.) Okonomie als Grundlage politischer Entscheidungen: essays on growth, labor markets, and European integration Opladen, Germany Leske & Budrich.

Highly skilled labour mobility and skills shortages in Britain and Germany
Shackleton, J.R., Kramer, S., Gabriel, J. and Neugart, M. 2001. Highly skilled labour mobility and skills shortages in Britain and Germany. European Association of Labour Economists Conference (EALE 2001). Jyväskylä, Finland 13-16 Sep 2001

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