Drug pricing behaviour across Central American countries Online publication date: Tue, 30-Sep-2014
by Karen Watkins, Mariano Rojas
International Journal of Behavioural and Healthcare Research (IJBHR), Vol. 2, No. 3, 2011
Abstract: This paper studies the behaviour of drug prices over time and across Central American countries. The paper is based on the price co-movement literature, which studies whether prices of some commodities move in a synchronised way over time. Correlations for quarterly pricing information of drugs in 11 therapeutic groups in all six Central American countries are calculated. The main findings show that there are country and firm-specific effects in the co-movement of prices across Central American countries. Furthermore, it is possible to identify a regional drug price co-movement structure that integrates some countries' sub-segments and isolates others. Most price co-movement research has focused on the study of prices of different commodities within a given geographical market; this paper goes beyond the study of price co-movements within single markets – a specific country – to also study price co-movement across well-defined jurisdictional markets – the Central American countries.
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