Jump to ContentJump to Main Navigation
The Economists' VoiceTop Economists Take On Today's Problems$
Users without a subscription are not able to see the full content.

Joseph Stiglitz, Aaron Edlin, and J. Bradford DeLong

Print publication date: 2011

Print ISBN-13: 9780231143653

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231143653.001.0001

Show Summary Details
Page of

PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 19 September 2021

Advance Market Commitments

Advance Market Commitments

How to Stimulate Investment in Vaccines for Neglected Diseases

Chapter:
(p.52) Chapter 7 Advance Market Commitments
Source:
The Economists' Voice
Author(s):

Owen Barder

Michael Kremer

Heidi Williams

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231143653.003.0007

Vaccines arguably offer the best hope for tackling diseases such as malaria, tuberculosis, and HIV that are concentrated in poor countries. However, there is a dearth of research and development on such vaccines. This chapter outlines the economic rationale for the “Advance Market Commitment” proposal, which the G8 finance ministers decided to pilot in 2006. Under the proposal, donors commit to help finance the purchase of vaccines against neglected diseases, if and when such vaccines are developed. The chapter first summarizes the value of vaccines in addressing diseases in poor countries. It then outlines two market failures that limit private sector investment in vaccines against neglected diseases. It argues that advance market commitments could accelerate the development of new vaccines for neglected diseases by addressing each of these market failures, and describes how such commitments can be designed to facilitate widespread access to these vaccines if they are developed. Finally, it discusses evidence suggesting that advance market commitments would be a cost-effective way for donors to save more lives than would be saved by virtually any comparable health expenditure.

Keywords:   vaccines, Advance Market Commitment, neglected diseases, G8, poor countries, private sector investment, vaccine development

Columbia Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us .