Access to essential drugs is vital for the promotion of better health for the entire population. High prices of drugs are being used as an argument for greater government role in the drugs sector through effective regulation of the drug market. The high prices of drugs in the Philippines will...

The Department of Health formulates and implements health care financing strategies. To aid the agency, this paper provides baseline figures on the parameters of the entire health care environment. In particular, the following parameters in the health sectors are studied: the regulatory...

In this article we apply and extend the model elaborated by Acemoglu and Verdier in their seminal paper (2000), to examine how the economy represented in their theoretical framework responds to an exogenous change in the agent's incentive. In particular, we focus on the consequences of a famous...

The economic approach to politics revolutionized the way scholars in economics and political science approached the study of political decision-making by introducing the possibility of government failure. However, the persistent and consistent application of neoclassical models of economics also...

After three decades of expulsion, the industrial policy (IP) is again a part of legitimate policy agenda in developed and emerging economies alike. The theoretical case for IP interventions remains valid in the presence of continued market failures enhanced by growing share of international...

One of the essential problems of economics is still a matter of state intervention. It differs economists for supporters and opponents of the interventionist policy. In the study the authors made an attempt to point at reasons for self-government appearance and its tasks in the light of market...

J.E. Stiglitz claims that the state should intervene only in cases when it has possibility to reduce market failure. He postulates government and market co-operation, what can result in their reinforcement and effective solutions for social problems. Whereas, B.S. Frey notices that only a...

An initial aim of the article is to specify when path dependency leads to undermining the efficiency of the market. The possibility of lowering the effectiveness of the market allocation mechanism leads towards consideration of reduction of negative consequences of path dependency by government....