Please use this identifier to cite or link to this item:
https://doi.org/10.1080/13504851.2017.1420868
DC Field | Value | |
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dc.title | The price effect of allowing non-pharmacy outlets to sell OTC drugs in Korea | |
dc.contributor.author | Chung, Hoe Sang | |
dc.contributor.author | MIN KIM | |
dc.date.accessioned | 2021-05-25T03:10:31Z | |
dc.date.available | 2021-05-25T03:10:31Z | |
dc.date.issued | 2017-12-30 | |
dc.identifier.citation | Chung, Hoe Sang, MIN KIM (2017-12-30). The price effect of allowing non-pharmacy outlets to sell OTC drugs in Korea. Applied Economics Letters 25 (18) : 1316-1318. ScholarBank@NUS Repository. https://doi.org/10.1080/13504851.2017.1420868 | |
dc.identifier.issn | 1350-4851 | |
dc.identifier.issn | 1466-4291 | |
dc.identifier.uri | https://scholarbank.nus.edu.sg/handle/10635/191509 | |
dc.description.abstract | By the amendment of the Pharmaceutical Affairs Act in 2012, non-pharmacy outlets (confined to 24-hour convenience stores) in Korea were permitted to sell 13 over-the-counter (OTC) drugs. This article empirically examines the effect of the regulatory reform on OTC drug prices. To do so, we use countylevel price data of 7 OTC drugs for the years of 2012 and 2013. Among them, 2 OTC drugs are available at non-pharmacy outlets due to the deregulation, and the remaining 5 are still only available at pharmacies. Employing a difference-in-differences estimation strategy, we find that after the regulatory reform, prices of the 2 OTC drugs increased by only 1.1% while those of the rest 5 increased by 6.5%. This result has implications for the government’s policy of designating non-pharmacy outlets that can sell OTC drugs from the viewpoint of consumer welfare. | |
dc.publisher | Routledge | |
dc.source | Elements | |
dc.subject | Over-the-counter drugs | |
dc.subject | non-pharmacy outlets | |
dc.subject | deregulation | |
dc.subject | difference-in-differences approach | |
dc.type | Article | |
dc.date.updated | 2021-05-25T02:38:47Z | |
dc.contributor.department | MARKETING | |
dc.description.doi | 10.1080/13504851.2017.1420868 | |
dc.description.sourcetitle | Applied Economics Letters | |
dc.description.volume | 25 | |
dc.description.issue | 18 | |
dc.description.page | 1316-1318 | |
dc.published.state | Published | |
Appears in Collections: | Staff Publications Elements |
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The price effect of allowing non pharmacy outlets to sell OTC drugs in Korea.pdf | Published version | 539.07 kB | Adobe PDF | CLOSED | Published |
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