The impact of biotechnology and pharmaceutical industries on regional economies during the epidemic period

DOI

10.2991/assehr.k.211209.323How to use a DOI?

Keywords

Regional economy; Biotechnology and pharmaceutical industries; GDP; epidemic

Abstract

The COVID-19 pandemic has had a huge impact on the global economy. Most of the region’s “non-essential” businesses were ordered to shut down by the government. Also, only necessary productive activities were allowed to operate, so most of the region’s GDP was kept below. In that case, biotechnology and pharmaceutical industries as the important roles of anti-epidemic businesses are affirmatively allowed to take place. Most people believe that biotechnology and pharmaceutical industries are able to alleviate the negative economic impact of the region where the industries are located caused by the epidemic. In this thesis, two regions with similar GDP [1] before the epidemic but different industrial structures were used to find out if the idea above is true. This article explains the reasons for choosing these two cities and the author will compare their economic conditions during and after the epidemic. One is San Diego, a city that has studied biotechnology and pharmaceutical industries, and the other is Phoenix, which lacks biotechnology and pharmaceutical industries. Although the business activities of the biotechnology and pharmaceutical industries were essential activities during the epidemic period and were not suspended, the author found that they did not greatly promote the regional economy during the epidemic period. But the biotechnology and pharmaceutical industries did play important role in the fight against the pandemic. Therefore, it is still important for the government to develop biotechnology and pharmaceutical industries to recover the economy as soon as possible after the epidemic.

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Yinuo Li
PY  - 2021
DA  - 2021/12/15
TI  - The impact of biotechnology and pharmaceutical industries on regional economies during the epidemic period
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 1983
EP  - 1988
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.323
DO  - 10.2991/assehr.k.211209.323
ID  - Li2021
ER  -