Agarwal, Ruchir; Gaulé, Patrick - 2021
To examine the drivers of innovation, this paper studies the global R&D effort to fight the deadliest diseases and … innovation can be very large, as demonstrated by aggregate flow of clinical trials increasing by 38% in 2020, with limited … economists are naturally in favor of market size as a driving force for innovation (i.e."if the market size is sufficiently large …