Price cap regulation in the Colombian pharmaceutical market: An impact evaluation
We evaluate the impact of a price cap regulation implemented in the Colombian pharmaceutical market between 2011 and 2014. To do so, we take advantage of a unique data set where we observe three sources of variation: i) differences across eighteen groups in the Anatomical Therapeutic Chemical (ATC)...
- Autores:
-
Bardey, David
Harker, Arturo
Zuluaga, Daniela
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2021
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/49521
- Acceso en línea:
- http://hdl.handle.net/1992/49521
- Palabra clave:
- Pharmaceutical market
Price cap regulation
Impact evaluation
I18, I13, H51, D02
- Rights
- openAccess
- License
- http://creativecommons.org/licenses/by-nc-nd/4.0/
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Al consultar y hacer uso de este recurso, está aceptando las condiciones de uso establecidas por los autores.http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Bardey, Davideb5d55eb-0c4d-4330-b74c-b4e0ef0037ac500Harker, Arturo04855a48-06ee-4d41-9838-4e5af80a849e500Zuluaga, Daniela3aa61c67-aebd-49af-9916-98d5e5a004d25002021-03-15T13:35:08Z2021-03-15T13:35:08Z2021http://hdl.handle.net/1992/495211657-719110.57784/1992/49521instname:Universidad de los Andesreponame:Repositorio Institucional Sénecarepourl:https://repositorio.uniandes.edu.co/We evaluate the impact of a price cap regulation implemented in the Colombian pharmaceutical market between 2011 and 2014. To do so, we take advantage of a unique data set where we observe three sources of variation: i) differences across eighteen groups in the Anatomical Therapeutic Chemical (ATC) classification system of the WHO, ii) the existence of regulated (treated) and unregulated (control) groups within each of these eighteen ATC groups, and iii) differences in time (before and after regulation) for the eighteen ATC groups. A triple differences model with Fixed time effects and cluster errors is used to identify the impact of this regulation. We Find that the price-cap regulation contributed to reduce prices in three of the eighteen groups and increase average prices for ten of them. We confirm then that the focal point effect generated by a price-cap regulation can generate unintended distortions. More specifically, our results reveal that the implementation of this price cap regulation potentially increased -public and private- expenditure by 30%, only for the 2,422 drugs in the eighteen ATC groups we study.42 páginasengUniversidad de los Andes, Facultad de Economía, CEDEDocumentos CEDE No.09 Marzo de 2021https://ideas.repec.org/p/col/000089/019117.htmlPrice cap regulation in the Colombian pharmaceutical market: An impact evaluationDocumento de trabajoinfo:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_8042http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttps://purl.org/redcol/resource_type/WPPharmaceutical marketPrice cap regulationImpact evaluationI18, I13, H51, D02Facultad de EconomíaPublicationORIGINALdcede2021-09.pdfdcede2021-09.pdfapplication/pdf9335937https://repositorio.uniandes.edu.co/bitstreams/610cff00-3105-4c92-a772-8c957f9435b6/download4f30bd89ba36885c8317086188ce9954MD51THUMBNAILdcede2021-09.pdf.jpgdcede2021-09.pdf.jpgIM Thumbnailimage/jpeg17503https://repositorio.uniandes.edu.co/bitstreams/71712bed-eb3e-4c66-a0ff-f323e58d3535/download28046679bab5bd8c41bf51a499b25403MD55TEXTdcede2021-09.pdf.txtdcede2021-09.pdf.txtExtracted texttext/plain75218https://repositorio.uniandes.edu.co/bitstreams/4b4d6707-8f3b-4da2-be75-aa7616b11ee8/download0036d72d3a7b5a0a932fcbaac81ae19eMD541992/49521oai:repositorio.uniandes.edu.co:1992/495212024-06-04 15:28:49.096http://creativecommons.org/licenses/by-nc-nd/4.0/open.accesshttps://repositorio.uniandes.edu.coRepositorio institucional Sénecaadminrepositorio@uniandes.edu.co |
dc.title.none.fl_str_mv |
Price cap regulation in the Colombian pharmaceutical market: An impact evaluation |
title |
Price cap regulation in the Colombian pharmaceutical market: An impact evaluation |
spellingShingle |
Price cap regulation in the Colombian pharmaceutical market: An impact evaluation Pharmaceutical market Price cap regulation Impact evaluation I18, I13, H51, D02 |
title_short |
Price cap regulation in the Colombian pharmaceutical market: An impact evaluation |
title_full |
Price cap regulation in the Colombian pharmaceutical market: An impact evaluation |
title_fullStr |
Price cap regulation in the Colombian pharmaceutical market: An impact evaluation |
title_full_unstemmed |
Price cap regulation in the Colombian pharmaceutical market: An impact evaluation |
title_sort |
Price cap regulation in the Colombian pharmaceutical market: An impact evaluation |
dc.creator.fl_str_mv |
Bardey, David Harker, Arturo Zuluaga, Daniela |
dc.contributor.author.none.fl_str_mv |
Bardey, David Harker, Arturo Zuluaga, Daniela |
dc.subject.keyword.none.fl_str_mv |
Pharmaceutical market Price cap regulation Impact evaluation |
topic |
Pharmaceutical market Price cap regulation Impact evaluation I18, I13, H51, D02 |
dc.subject.jel.none.fl_str_mv |
I18, I13, H51, D02 |
description |
We evaluate the impact of a price cap regulation implemented in the Colombian pharmaceutical market between 2011 and 2014. To do so, we take advantage of a unique data set where we observe three sources of variation: i) differences across eighteen groups in the Anatomical Therapeutic Chemical (ATC) classification system of the WHO, ii) the existence of regulated (treated) and unregulated (control) groups within each of these eighteen ATC groups, and iii) differences in time (before and after regulation) for the eighteen ATC groups. A triple differences model with Fixed time effects and cluster errors is used to identify the impact of this regulation. We Find that the price-cap regulation contributed to reduce prices in three of the eighteen groups and increase average prices for ten of them. We confirm then that the focal point effect generated by a price-cap regulation can generate unintended distortions. More specifically, our results reveal that the implementation of this price cap regulation potentially increased -public and private- expenditure by 30%, only for the 2,422 drugs in the eighteen ATC groups we study. |
publishDate |
2021 |
dc.date.accessioned.none.fl_str_mv |
2021-03-15T13:35:08Z |
dc.date.available.none.fl_str_mv |
2021-03-15T13:35:08Z |
dc.date.issued.none.fl_str_mv |
2021 |
dc.type.spa.fl_str_mv |
Documento de trabajo |
dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
dc.type.driver.spa.fl_str_mv |
info:eu-repo/semantics/workingPaper |
dc.type.coar.spa.fl_str_mv |
http://purl.org/coar/resource_type/c_8042 |
dc.type.content.spa.fl_str_mv |
Text |
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https://purl.org/redcol/resource_type/WP |
format |
http://purl.org/coar/resource_type/c_8042 |
dc.identifier.uri.none.fl_str_mv |
http://hdl.handle.net/1992/49521 |
dc.identifier.eissn.none.fl_str_mv |
1657-7191 |
dc.identifier.doi.none.fl_str_mv |
10.57784/1992/49521 |
dc.identifier.instname.spa.fl_str_mv |
instname:Universidad de los Andes |
dc.identifier.reponame.spa.fl_str_mv |
reponame:Repositorio Institucional Séneca |
dc.identifier.repourl.spa.fl_str_mv |
repourl:https://repositorio.uniandes.edu.co/ |
url |
http://hdl.handle.net/1992/49521 |
identifier_str_mv |
1657-7191 10.57784/1992/49521 instname:Universidad de los Andes reponame:Repositorio Institucional Séneca repourl:https://repositorio.uniandes.edu.co/ |
dc.language.iso.none.fl_str_mv |
eng |
language |
eng |
dc.relation.ispartofseries.none.fl_str_mv |
Documentos CEDE No.09 Marzo de 2021 |
dc.relation.repec.spa.fl_str_mv |
https://ideas.repec.org/p/col/000089/019117.html |
dc.rights.uri.*.fl_str_mv |
http://creativecommons.org/licenses/by-nc-nd/4.0/ |
dc.rights.accessrights.spa.fl_str_mv |
info:eu-repo/semantics/openAccess |
dc.rights.coar.spa.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
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http://creativecommons.org/licenses/by-nc-nd/4.0/ http://purl.org/coar/access_right/c_abf2 |
eu_rights_str_mv |
openAccess |
dc.format.extent.none.fl_str_mv |
42 páginas |
dc.publisher.none.fl_str_mv |
Universidad de los Andes, Facultad de Economía, CEDE |
publisher.none.fl_str_mv |
Universidad de los Andes, Facultad de Economía, CEDE |
institution |
Universidad de los Andes |
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