Barwick, Panle Jia; Xia, Hongyuan; Xia, Tianli - National Bureau of Economic Research - 2026
This paper examines China's transition from pharmaceutical "free rider" to global innovator over the last decade. In 2010, China accounted for less than 8% of global clinical trials; by 2020, it had surpassed the US in annual registered clinical trial volume. To study this transformation, we...