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COUNTRY-SPECIFIC DETERMINANTS OF INTRA-INDUSTRY TRADE IN PHARMACEUTICALS: THE CASE OF POLAND AND ITS EUROPEAN UNION PARTNERS
Pharmaceuticals are chemical and biological substances produced by the pharmaceutical industry, used in therapies and prevention of various diseases. They cover an extremely wide range of products, ranging from simple medicinal preparations, to extremely advanced technological specifics. Similar to food, pharmaceutical products are believed to be one of the most important needs of human beings. They have a significant impact on their health, often support and extend their lives. Due to their specific properties and healthcare function of pharmaceuticals, they are contained in the category of basic products and their significance is appreciated not only by buyers (patients) but also by authorities in most countries. That is why in many countries special attention is paid to the development of production and trade in pharmaceutical products.
Jméno a příjmení autora:
Justyna Łapińska, Jana Meluzínová, Jiří Uhman
Intra-industry trade, pharmaceutical products, Poland, European Union
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Trade cooperation between European Union countries is based mainly on intra-industry trade, consisting in the simultaneous import and export of similar products belonging to the same industry …více
Trade cooperation between European Union countries is based mainly on intra-industry trade, consisting in the simultaneous import and export of similar products belonging to the same industry (commodity group). The present study has investigated the country-specific determinants of intra-industry trade between Poland and its European Union trading partners in pharmaceutical products during the time period 2004-2016. To this end, an econometric model for panel data was constructed. The research shows that the intensity of intra-industry trade in Poland-EU trade in pharmaceuticals is determined by several key factors. The intensity of trade with particular EU countries and the size of general government expenditure on health in the countries of trading partners have a positive impact on the development of this type of exchange. A factor that significantly and simultaneously affects the intensity of intra-industry trade is the degree of imbalance in the trade balance in pharmaceutical products with individual trading partners. The development of intra-industry trade is also limited by factors related to the level of economic development of trading partners. The study confirmed that the greater the differences in the level of GDP per capita between Poland and the trading partner, the less intense intra-industry trade. Also, the growth of GDP per capita in the countries of trade partners is not conducive to the development of intra-industry trade in Poland’s trade in pharmaceuticals. The direction of the impact of this variable (GDP per capita) on the intensity of two-way trade obtained in this study does not confirm the predictions of the theory of intra-industry trade. However, the negative impact of this factor can be explained by the specificity of pharmaceutical products that are purchased by consumers generally only in justified situations resulting from health or life protection.
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