BUDGET CAPACITY OF UKRAINE FOR FINANCING OF COVID-19 VACCINATION IN THE EMERGING GLOBAL VACCINE MARKET

Authors

DOI:

https://doi.org/10.15407/economyukr.2021.06.003

Keywords:

budget expenditures; state finance; the COVID-19 pandemic; vaccination; inequality; health care; post-pandemic economic recovery

Abstract

The budgetary opportunities of Ukraine for vaccination against COVID-19 in the conditions of formation of a new global market of vaccines are estimated. The principles of the current stage of formation of the global market of vaccines against COVID-19 are revealed. The preconditions for the formation of a global shortage of vaccines against COVID-19, which are caused primarily by the limitations and global shortage of production capacity of vaccines and the shortage of raw materials and components for their production. The factors of formation of the pricing policy in the modern global market of vaccines against COVID-19 are revealed, the main of which are: uncertainty and a wide range of the prices for vaccines established by manufacturers; high level of competition between vaccine manufacturers and the struggle to capture a larger segment of the global market; fierce competition between states for access to potentially required doses of vaccines. There is a gap in access to COVID-19 vaccines in developed and developing countries, which deepens inequality between them in terms of post-pandemic economic recovery. Emphasis is placed on the fact that slow and uneven vaccination against COVID-19 causes GDP losses in both developed and developing countries. One of the approaches of international institutions, the application of which in practice can help to overcome the global shortage of vaccines and stimulate their production, namely the temporary waiver of protection of intellectual property and patents for vaccines against COVID-19, is examine. The need to increase budgetary opportunities for vaccination against COVID-19 in Ukraine in order to achieve collective immunity and protect different groups of the population is proved.

References

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Torjesen I. Covid-19 will become endemic but with decreased potency over time, scientists believe. BMJ, February 18, 2021

doi.org/10.1136/bmj.n494

Phillips N. The coronavirus is here to stay - here's what that means. Nature, February 16, 2021, available at: www.nature.com/articles/d41586-021-00396-2

Agarwal R., Gopinath G. A Proposal to End the COVID-19 Pandemic. International Monetary Fund, May 19, 2021, available at: www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2021/05/19/A-Proposal-to-End-the-COVID-19-Pandemic-460263

Çakmaklı C., Demiralp S., Kalemli-Özcan Ṣ. et al. The economic case for global vaccinations: an epidemiological model with international production networks. NBER working paper series. Working Paper 28395, available at: www.nber.org/system/files/working_papers/w28395/w28395.pdf

Jimenez D. Covid-19 vaccine inequity: the debate over patent waivers intensifies. Pharmaceutical Technology, May 13, 2021, available at: www.pharmaceutical-technology.com/features/covid-19-vaccine-inequity-patent-waivers/

Jackson N. Why we need a "portfolio approach" to COVID-19 vaccine development. CEPI, September 28, 2020, available at: cepi.net/news_cepi/why-we-need-a-portfolio-approach-to-covid-19-vaccine-development/

Nienaber M. Berlin earmarks 9 billion euros to buy COVID-19 shots for Europeans. REUTERS, February 9, 2021, available at: www.reuters.com/article/us-health-coronavirus-germany-vaccines-idUSKBN2A91QI

Koptyug E. Confirmed coronavirus (COVID-19) vaccine doses for Germany in 2021, by manufacturer. statista, March 17, 2021, available at: www.statista.com/statistics/1199621/coronavirus-covid-19-confirmed-vaccine-doses-by-manufacturer-germany/

Ellis R. Fauci: Child Vaccinations Needed for Herd Immunity. WebMD, March 22, 2021, available at: www.webmd.com/vaccines/covid-19-vaccine/news/20210322/fauci-says-child-vaccinations-needed-for-herd-immunity

Mandavilli А. Reaching "Herd Immunity" Is Unlikely in the U.S., Experts Now Believe. The New York Times, May 3, 2021, available at: www.nytimes.com/2021/05/03/health/covid-herd-immunity-vaccine.html

Georgieva K., Ghebreyesus T., Malpass D., Okonjo-Iweala N. A New Commitment for Vaccine Equity and Defeating the Pandemic. International Monetary Fund, June 1, 2021, available at: www.imf.org/en/News/Articles/2021/06/01/a-new-commitment-for-vaccine-equity-and-defeating-the-pandemic

Ghebreyesus T. Director-General's opening remarks at the media briefing on COVID-19 - 14 May 2021. World Health Organization, May 14, 2021, available at: www.who.int/director-general/speeches/detail/director-general-s-opening-remarks-at-the-media-briefing-on-covid-19-14-may-2021

Ghebreyesus T. Waive Covid vaccine patents to put world on war footing. World Health Organization, March 7, 2021, available at: www.who.int/news-room/commentaries/detail/waive-covid-vaccine-patents-to-put-world-on-war-footing

Torjesen I. Covid-19 will become endemic but with decreased potency over time, scientists believe. BMJ, February 18, 2021

doi.org/10.1136/bmj.n494

Phillips N. The coronavirus is here to stay - here's what that means. Nature, February 16, 2021, available at: www.nature.com/articles/d41586-021-00396-2

Agarwal R., Gopinath G. A Proposal to End the COVID-19 Pandemic. International Monetary Fund, May 19, 2021, available at: www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2021/05/19/A-Proposal-to-End-the-COVID-19-Pandemic-460263

Çakmaklı C., Demiralp S., Kalemli-Özcan Ṣ. et al. The economic case for global vaccinations: an epidemiological model with international production networks. NBER working paper series. Working Paper 28395, available at: www.nber.org/system/files/working_papers/w28395/w28395.pdf

Jimenez D. Covid-19 vaccine inequity: the debate over patent waivers intensifies. Pharmaceutical Technology, May 13, 2021, available at: www.pharmaceutical-technology.com/features/covid-19-vaccine-inequity-patent-waivers/

Jackson N. Why we need a "portfolio approach" to COVID-19 vaccine development. CEPI, September 28, 2020, available at: cepi.net/news_cepi/why-we-need-a-portfolio-approach-to-covid-19-vaccine-development/

Nienaber M. Berlin earmarks 9 billion euros to buy COVID-19 shots for Europeans. REUTERS, February 9, 2021, available at: www.reuters.com/article/us-health-coronavirus-germany-vaccines-idUSKBN2A91QI

Koptyug E. Confirmed coronavirus (COVID-19) vaccine doses for Germany in 2021, by manufacturer. statista, March 17, 2021, available at: www.statista.com/statistics/1199621/coronavirus-covid-19-confirmed-vaccine-doses-by-manufacturer-germany/

Ellis R. Fauci: Child Vaccinations Needed for Herd Immunity. WebMD, March 22, 2021, available at: www.webmd.com/vaccines/covid-19-vaccine/news/20210322/fauci-says-child-vaccinations-needed-for-herd-immunity

Published

30.07.2024

How to Cite

HEYETS, V., LUNINA, I., & STEPANOVA, O. (2024). BUDGET CAPACITY OF UKRAINE FOR FINANCING OF COVID-19 VACCINATION IN THE EMERGING GLOBAL VACCINE MARKET. Economy of Ukraine, 64(6 (715), 3–20. https://doi.org/10.15407/economyukr.2021.06.003