Comparative Analysis of Foreign Economic Development of Pharmaceutical Sector in Russia and the USA

Authors

  • Elena Leonidovna Andreeva Institute of Economics of the Ural Branch of RAS; Ural State University of Economics
  • Elena Vladimirovna Sapir P. G. Demidov Yaroslavl State University
  • Dmitriy Andreevich Karkh Ural State University of Economics
  • Igor Andreevich Karachev P. G. Demidov Yaroslavl State University

DOI:

https://doi.org/10.17059/2019-2-20

Keywords:

pharmaceutical industry, export competitiveness, export quota, import quota, cooperation, global competitiveness index, innovative development, business maturity, talent pool, types of pharmaceutical clusters, integrated laboratory space

Abstract

The article reveals the trends in foreign economic development of Russian and American pharmaceutical industry. The study aims to substantiate the trends of prevailing import dependence of Russian pharmaceutical sector and export orientation of American one. Moreover, we define the main directions of export in Russian pharmaceutical industry based on the development trends of world industry leaders. We focus on identifying what is the nature and how close is the relationship between the factors of business’ innovation and complexity, on the one hand, and increasing the sectors export orientation, on the other hand. The research methodology is based on the domestic and foreign literature on foreign economic activity in pharmaceutical industry. Furthermore, the methods include the pharmaceutical industry assessment by international institutions (particularly, the World Economic Forum). We used the data from United Nations Conference on Trade and Development (UNCTAD) statistics, American and Russian international ratings, and the results of analytical studies of innovation processes in bio-pharm-medical sector. We hypothesise that there is a correlation between the factors of business innovations and maturity, and the volume of pharmaceutical industry export. The correlation analysis has revealed the relation between innovation development and export growth, suggesting the exports integration into the national strategy of pharmaceutical industry. The comparative analysis of the Russian and American pharmaceutical industries has demonstrated that the increase in the export-oriented products in Russian pharmaceutical industry will be determined by the degree of the integration of information technologies into all stages of research and pharmaceutical business. The developers and ideologists of national export strategy in pharmaceutical industry might implement the study’s conclusions and recommendations on federal and regional levels. Further scientific research should focus on substantiating ways to increase the pharmaceutical industry’s competitiveness, corresponding to the fundamental information, technological and personnel challenges of this industry development.

Author Biographies

Elena Leonidovna Andreeva, Institute of Economics of the Ural Branch of RAS; Ural State University of Economics

Doctor of Economics, Professor of RAS, Head of the Centre of Regional Comparative Research, Institute of Economics of the Ural Branch of RAS; Professor, Global Economics Department, Ural State University of Economics; Scopus Author ID: 56385935200 (29, Moskovskaya st., Ekaterinburg, 620014; 62, 8 Marta st., Ekaterinburg, 620144, Russian Federation; e-mail: elenandr@mail.ru).

Elena Vladimirovna Sapir, P. G. Demidov Yaroslavl State University

Doctor of Economics, Professor, Head of the Department for World Economy and Statistics, P. G. Demidov Yaroslavl State University; Scopus Author ID: 56529364900 (14, Sovetskaya st., Yaroslavl, 150003, Russian Federation; e-mail: evsapir@yahoo.com).

Dmitriy Andreevich Karkh, Ural State University of Economics

Doctor of Economics, Professor, Department of Commerce, Logistics and Trade Economics, Ural State University of Economics; Scopus Author ID: 56736997900 (62, 8 Marta st., Ekaterinburg, 620144, Russian Federation; е-mail: dkarh@usue.ru).

Igor Andreevich Karachev, P. G. Demidov Yaroslavl State University

PhD in Economics, Associate Professor, Department for World Economy and Statistics, P. G. Demidov Yaroslavl State University; Scopus Author ID: 57200079199 (14, Sovetskaya st., Yaroslavl, 150003, Russian Federation; e-mail: karachev2011@yandex.ru).

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Published

28.06.2019

How to Cite

Andreeva, E. L., Sapir, E. V., Karkh, D. A., & Karachev, I. A. (2019). Comparative Analysis of Foreign Economic Development of Pharmaceutical Sector in Russia and the USA. Economy of Regions, 15(2), 576–589. https://doi.org/10.17059/2019-2-20

Issue

Vol. 15 No. 2 (2019)

Section

Research articles

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Copyright (c) 2019 Elena Leonidovna Andreeva, Elena Vladimirovna Sapir, Dmitriy Andreevich Karkh, Igor Andreevich Karachev

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