Financial Intermediation and the Funding of Biomedical Innovation: A Review

Andrew Lo () and Richard Thakor

No 30594, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We review the literature on financial intermediation in the process by which new medical therapeutics are financed, developed, and delivered. We discuss the contributing factors that lead to a key finding in the literature—underinvestment in biomedical R&D—and focus on the role that banks and other intermediaries can play in financing biomedical R&D and potentially closing this funding gap. We conclude with a discussion of the role of financial intermediation in the delivery of healthcare to patients.

JEL-codes: D21 G21 G24 G31 G32 L65 (search for similar items in EconPapers)
Date: 2022-10
New Economics Papers: this item is included in nep-ban and nep-cfn
Note: CF EH PR
References: Add references at CitEc
Citations:

Published as Andrew W. Lo & Richard T. Thakor, 2023. "Financial Intermediation and the Funding of Biomedical Innovation: A Review," Journal of Financial Intermediation, .

Downloads: (external link)
http://www.nber.org/papers/w30594.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:30594

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w30594

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().