Property Rights on Biodiversity and the Pharmaceutical Industry

Graciela Chichilnisky

MPRA Paper from University Library of Munich, Germany

Abstract: Major pharmaceutical companies such as Smith Kline Beecham, Merck, Glaxo and Lilly, and a score of smaller ones, are developing profitable business opportunities in the world's forest while preserving biodiversity and producing incentives for leaving the forests intact. This case study covers the business relationships between Merck and Co. and In Bio in Costa Rica, and the activities of Shaman Pharmaceuticals in Latin America and Africa. It provides the details, discusses what each party expects from these deals, and explores the connections with securitization and with issues of corporate responsibility towards the environment. The study explains the properties of externalities, which are typical of markets involving environmental assets, and the use of property rights in inducing efficient market solutions and corporate social responsibility.

Keywords: biodiversity; natural resources; case study; pharmaceuticals; developing countries; Central America; Latin America; South America; securitization; environmental assets; property rights; efficiency; market solutions; corporate responsibility; social; environmental; international partnership; financial markets (search for similar items in EconPapers)
JEL-codes: N20 P26 Q57 (search for similar items in EconPapers)
Date: 1993
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/8330/1/MPRA_paper_8330.pdf original version (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:pra:mprapa:8330

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().