Korea Trade Review (무역학회지)

Korea Trade Research Association (한국무역학회)
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Impact of International regulatory collaboration on Pharmaceutical trade

국가 간 의약품 규제 협력이 의약품 무역에 미치는 영향

  • Jaeyoun Roh (Yeungnam University, School of International Economics & Business) ;
  • Iyn-Hyang Lee (Yeungnam Univeristy, College of Pharmacy)
  • Received : 2022.09.28
  • Accepted : 2022.10.27
  • Published : 2022.10.30
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Abstract

Tariffs on pharmaceuticals are generally low, but the time-consuming and costly licensing procedures of importing countries may act as barriers to trade. Accordingly, in terms of improving export competitiveness through cost reduction of exporting countries and improving public health for importing countries, international regulatory collaboration is effective for both countries. However, little is known about the impact of cross-border cooperation in pharmaceutical regulation on international trade. This study empirically analyzed the effect of cross-border regulatory collaboration on pharmaceutical trade using the gravity model. It was confirmed that the regulatory collaboration measures had a trade promotion effect in all drugs(HS29+HS30), finished drugs (HS30), and vaccines (HS300220). This study is meaningful in that it empirically analyzed with the consideration of the reference pharmacopoeia, safety and effectiveness in addition to the GMP inspection used in the previous study.

Keywords

Acknowledgement

This work was supported by the Ministry of Food and Drug Safety.

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