Financial Intermediation and the Funding of Biomedical Innovation: A Review / Andrew W. Lo, Richard T. Thakor.

Format:

Book

Author/Creator:

Lo, Andrew W.

Contributor:

National Bureau of Economic Research.

Thakor, Richard T.

Series:

Working Paper Series (National Bureau of Economic Research) no. w30594.

NBER working paper series no. w30594

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2022.

Summary:

We review the literature on financial intermediation in the process by which new medical therapeutics are financed, developed, and delivered. We discuss the contributing factors that lead to a key finding in the literature--underinvestment in biomedical R&D--and focus on the role that banks and other intermediaries can play in financing biomedical R&D and potentially closing this funding gap. We conclude with a discussion of the role of financial intermediation in the delivery of healthcare to patients.

Notes:

Print version record

October 2022.