IDEAS home Printed from https://ideas.repec.org/p/wbk/wbrwps/10067.html
   My bibliography  Save this paper

Financing Vaccine Equity : Funding for Day-Zero of the Next Pandemic

Author

Listed:
  • Agarwal,Ruchir
  • Reed,Tristan

Abstract

A lack of timely financing for purchases of vaccines and other health products impeded theglobal response to the COVID-19 pandemic. Based on analysis of contract signature and delivery dates in COVID-19 vaccineadvance purchase agreements, this paper finds that 60–75 percent of the delay in vaccine deliveries to low- andmiddle-income countries is attributable to their signing purchase agreements later than high-income countries, whichplaced them further behind in the delivery line. A pandemic Advance Commitment Facility with access to a credit line onday-zero of the next pandemic could allow low- and middle-income countries to secure orders earlier, ensuring amuch faster and equitable global response than during COVD-19. The paper outlines four options for a financier toabsorb some or all of the risk associated with the credit line and discusses how the credit would complement otherproposals to strengthen the financing architecture for pandemic preparedness, prevention, and response.

Suggested Citation

  • Agarwal,Ruchir & Reed,Tristan, 2022. "Financing Vaccine Equity : Funding for Day-Zero of the Next Pandemic," Policy Research Working Paper Series 10067, The World Bank.
  • Handle: RePEc:wbk:wbrwps:10067
    as

    Download full text from publisher

    File URL: http://documents.worldbank.org/curated/en/099500105262228687/pdf/IDU0cdc5294e039a8045fb0aa670908d56a28371.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Agarwal, Ruchir & Gaule, Patrick, 2022. "What drives innovation? Lessons from COVID-19 R&D," Journal of Health Economics, Elsevier, vol. 82(C).
    2. Agarwal,Ruchir & Reed,Tristan, 2021. "How to End the COVID-19 Pandemic by March 2022," Policy Research Working Paper Series 9632, The World Bank.
    3. Demombynes,Gabriel, 2020. "COVID-19 Age-Mortality Curves Are Flatter in Developing Countries," Policy Research Working Paper Series 9313, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Susan Athey & Juan Camilo Castillo & Esha Chaudhuri & Michael Kremer & Alexandre Simoes Gomes & Christopher M Snyder, 2022. "Expanding capacity for vaccines against Covid-19 and future pandemics: a review of economic issues," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 38(4), pages 742-770.
    2. Scott Duke Kominers & Alex Tabarrok, 2022. "Vaccines and the Covid-19 pandemic: lessons from failure and success," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 38(4), pages 719-741.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Daniel P. Gross & Bhaven N. Sampat, 2022. "Crisis Innovation Policy from World War II to COVID-19," Entrepreneurship and Innovation Policy and the Economy, University of Chicago Press, vol. 1(1), pages 135-181.
    2. Amrita Ahuja & Susan Athey & Arthur Baker & Eric Budish & Juan Camilo Castillo & Rachel Glennerster & Scott Duke Kominers & Michael Kremer & Jean Lee & Canice Prendergast & Christopher M. Snyder & Ale, 2021. "Preparing for a Pandemic: Accelerating Vaccine Availability," AEA Papers and Proceedings, American Economic Association, vol. 111, pages 331-335, May.
    3. Jacques Bughin & Francis Hinterman & Sybille Berjoan, 2022. "A Good Crisis (not) Wasted: How Exploiting and Expanding Dynamic Capabilities Shape Corporate Performance During the Covid Pandemic," Working Papers TIMES² WP2022-051, ULB -- Universite Libre de Bruxelles.
    4. Lin Ma & Gil Shapira & Damien de Walque & Quy‐Toan Do & Jed Friedman & Andrei A. Levchenko, 2022. "The Intergenerational Mortality Trade‐Off Of Covid‐19 Lockdown Policies," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(3), pages 1427-1468, August.
    5. Laura Grigolon & Laura Lasio, 2023. "Biased Beliefs and Stigma as Barriers to Treatment and Innovation Adoption," CRC TR 224 Discussion Paper Series crctr224_2023_277v2, University of Bonn and University of Mannheim, Germany.
    6. Agarwal, Ruchir & Gaule, Patrick, 2022. "What drives innovation? Lessons from COVID-19 R&D," Journal of Health Economics, Elsevier, vol. 82(C).
    7. Heinrich, Torsten & Yang, Jangho, 2022. "Innovation in times of Covid-19," MPRA Paper 115809, University Library of Munich, Germany.
    8. Mălina Voicu & Mădălina Manoilă & Delia Bădoi & Simona Mihaiu & Alexandra Deliu, 2022. "Covid 19 in Romania: assessing prevalence, mortality and fatality by age and gender in the first 32 weeks of the pandemic," Journal of Community Positive Practices, Catalactica NGO, issue 4, pages 3-20.
    9. Isaac Sasson, 2021. "Age and COVID-19 mortality: A comparison of Gompertz doubling time across countries and causes of death," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 44(16), pages 379-396.
    10. Demombynes,Gabriel & De Walque,Damien B. C. M. & Gubbins,Paul Michael & Urdinola,Beatriz Piedad & Veillard,Jeremy Henri Maurice, 2021. "COVID-19 Age-Mortality Curves for 2020 Are Flatter in Developing Countries Using Both Official DeathCounts and Excess Deaths," Policy Research Working Paper Series 9807, The World Bank.
    11. Bryan, Kevin A. & Lemus, Jorge & Marshall, Guillermo, 2022. "R&D competition and the direction of innovation," International Journal of Industrial Organization, Elsevier, vol. 82(C).
    12. Galanis, Giorgos & Georgiadis, Andreas, 2024. "Socioeconomic conditions and contagion dynamics of the COVID-19 pandemic with and without mitigation measures: Evidence from 185 countries," World Development, Elsevier, vol. 175(C).
    13. Berkes, Enrico & Coluccia, Davide M. & Dossi, Gaia Greta & Squicciarini, Mara P., 2023. "Dealing with adversity: religiosity or science? Evidence from the great influenza pandemic," LSE Research Online Documents on Economics 121318, London School of Economics and Political Science, LSE Library.
    14. Nicole Mun Sim Lai, 2022. "Why did care home residents face an elevated risk of death from COVID-19? A demographic perspective using data from Belgium and from England and Wales," Vienna Yearbook of Population Research, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna, vol. 20(1), pages 499-526.
    15. Mihaela ZAMFIR & Ileana CIOBANU & Mihai Viorel ZAMFIR, 2021. "Vatra Luminoasa, age friendly study of intergenerational architecture in a Bucharest neighborhood," Smart Cities International Conference (SCIC) Proceedings, Smart-EDU Hub, Faculty of Public Administration, National University of Political Studies & Public Administration, vol. 9, pages 437-460, November.
    16. Haas, Christian & Kempa, Karol & Moslener, Ulf, 2023. "Dealing with deep uncertainty in the energy transition: What we can learn from the electricity and transportation sectors," Energy Policy, Elsevier, vol. 179(C).
    17. Enrico Berkes & Davide M. Coluccia & Gaia Dossi & Mara P. Squicciarini, 2023. "Dealing with adversity: Religiosity or science? Evidence from the great influenza pandemic," POID Working Papers 068, Centre for Economic Performance, LSE.
    18. Gentilini, Arianna & Miraldo, Marisa, 2023. "The role of patient organisations in research and development: Evidence from rare diseases," Social Science & Medicine, Elsevier, vol. 338(C).
    19. Shapiro, Vladimir, 2021. "COVID-19 Sex-Age Mortality Modeling - A Use Case of Risk-Based Vaccine Prioritization," SocArXiv 5c8bd, Center for Open Science.
    20. Aggarwal, Mayank & Chakrabarti, Anindya S. & Chatterjee, Chirantan & Higgins, Matthew J., 2023. "Research and market structure: Evidence from an antibiotic-resistant pathogenic outbreak," Research Policy, Elsevier, vol. 52(1).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:10067. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Roula I. Yazigi (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.