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UID:0a16464ec4462026fe40b1a85a2d34b3
CATEGORIES:Lecture / Reading / Talk
CREATED:20211120T121115
SUMMARY:‘Do Multinationals React Differently from Domestic Firms to Regulatory Uncertainty? The case of the Indian Pharmaceutical Market’ - A Talk by Dr. Viswanath Pingali
DESCRIPTION:DEPARTMENT OF ECONOMICS SEMINAR SERIES (2018-19)\nProf. Viswanath Pingali i
 s a Professor of Economics at IIM Ahmedabad. . He is a very active research
 er and has pursued various researches on Applied Game Theory, Applied Econo
 metrics, Behavioral and Regulatory Economics and Pharmaceuticals. He has co
 mpleted M.S. in Quantitative Economics from Indian Statistical Institute in
  Calcutta before moving to the Northwestern University to pursue M.A in Eco
 nomics followed by a Ph.D in Economics. He has published extensively in pee
 r reviewed International and national journals, like IJIO, Applied Economic
  Letters, Energy Policy, Journal of Health Economics, Economic Modelling, S
 tudies in Microeconomics, EPW, among others. \n\nAbstract\nIn this paper, w
 e investigate if Indian firms and multinationals react differently to regul
 atory uncertainty. We answer this in the context of the Indian pharmaceutic
 al sector. The Essential Commodities Act of 1951 provides power to the Indi
 an Government to put a price cap on any items that are deemed necessary. In
  this context, the Government aimed to control the prices of certain essent
 ial drugs through a Drug Price Control Order (DPCO). The DPCO effectively c
 aps the prices of essential drugs identified under National List of Essenti
 al Medicines (NLEM). In 2013, a set of new drugs are added to NLEM. We trea
 t this as anticipated shock. In late 2013, the Government imposed price res
 triction on several other molecules that are not a part of NLEM. While thes
 e price restrictions were in place only temporarily, this can be deemed as 
 unanticipated shock. Using the data from Indian pharmaceutical sales, we fi
 nd that the reaction from domestic and multinationals has been identical fo
 r anticipated shock. However, for unanticipated shock, the multinationals r
 eacted by drastically reducing the sale of these medicines, whereas the Ind
 ian firms' reaction has been less drastic. The study has implications for p
 olicymakers as well as management practitioners.\n
X-ALT-DESC;FMTTYPE=text/html:<p><strong>DEPARTMENT OF ECONOMICS SEMINAR SERIES (2018-19)</strong></p><p>
 Prof. Viswanath Pingali is a Professor of Economics at IIM Ahmedabad. . He 
 is a very active researcher and has pursued various researches on Applied G
 ame Theory, Applied Econometrics, Behavioral and Regulatory Economics and P
 harmaceuticals. He has completed M.S. in Quantitative Economics from Indian
  Statistical Institute in Calcutta before moving to the Northwestern Univer
 sity to pursue M.A in Economics followed by a Ph.D in Economics. He has pub
 lished extensively in peer reviewed International and national journals, li
 ke IJIO, Applied Economic Letters, Energy Policy, Journal of Health Economi
 cs, Economic Modelling, Studies in Microeconomics, EPW, among others. <br /
 ><br /><strong>Abstract</strong><br />In this paper, we investigate if Indi
 an firms and multinationals react differently to regulatory uncertainty. We
  answer this in the context of the Indian pharmaceutical sector. The Essent
 ial Commodities Act of 1951 provides power to the Indian Government to put 
 a price cap on any items that are deemed necessary. In this context, the Go
 vernment aimed to control the prices of certain essential drugs through a D
 rug Price Control Order (DPCO). The DPCO effectively caps the prices of ess
 ential drugs identified under National List of Essential Medicines (NLEM). 
 In 2013, a set of new drugs are added to NLEM. We treat this as anticipated
  shock. In late 2013, the Government imposed price restriction on several o
 ther molecules that are not a part of NLEM. While these price restrictions 
 were in place only temporarily, this can be deemed as unanticipated shock. 
 Using the data from Indian pharmaceutical sales, we find that the reaction 
 from domestic and multinationals has been identical for anticipated shock. 
 However, for unanticipated shock, the multinationals reacted by drastically
  reducing the sale of these medicines, whereas the Indian firms' reaction h
 as been less drastic. The study has implications for policymakers as well a
 s management practitioners.</p>
DTSTAMP:20260519T132351
DTSTART;TZID=Asia/Kolkata:20190123T151000
DTEND;TZID=Asia/Kolkata:20190123T164000
SEQUENCE:0
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