THE IMPACT OF CORONAVIRUS AND THE POLICIES NEEDED

Nicola Acocella ()

Economia Internazionale / International Economics, 2020, vol. 73, issue 4, 525-542

Abstract: The pandemic will have many consequences, all the more important and heavier as it will prolong and it is sad to note that its length depends also on the tendency of large pharmaceutical firms to privatize the results of their research, not sharing them, in order to safeguard their patents. Apart from suspension – or some form of attenuation – of patents on these essential drugs, a policy aiming at an increased cooperation in the research of antidotes could be offered by a common pool of resources between the main countries. The consequences of the pandemic will vary from those of an economic nature, on the levels and distribution of income between people and countries, to those of a social and political nature. In addition, one should note that the pandemic will influence the set-up of economic and political international cooperation, confirming or aggravating the protectionist tendency of the recent years. L’impatto della crisi e la soluzione La pandemia avrà conseguenze molteplici, tanto più importanti e gravi quanto più essa si protrarrà e duole notare che la sua durata dipende dalla tendenza delle grandi case farmaceutiche a non mettere in comune i risultati delle proprie ricerche, per salvaguardare i diritti di brevetto. A parte la sospensione – o qualche attenuazione – dei diritti di brevetto, una possibile misura tesa ad aumentare la cooperazione nella ricerca degli antidoti potrebbe essere offerta dalla costituzione di un pool comune di risorse fra i vari paesi. Le conseguenze saranno di varia natura, di carattere non soltanto economico, sui livelli e la distribuzione del reddito fra persone e paesi, ma anche sociale e politico. In aggiunta, va notato che la pandemia influirà sull’assetto della cooperazione economica e politica internazionale, confermando o accentuando le tendenze protezionistiche manifestatesi negli ultimi anni.

Keywords: Supply Policies; Demand Policies; European Solutions; Solutions at a World Level (search for similar items in EconPapers)
JEL-codes: D02 D43 E62 F42 F45 (search for similar items in EconPapers)
Date: 2020
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