Globalization and health: Inter-regulatory competition among health care regulators

We show that inter-regulatory competition among health care regulators can have strong pro-patient effects in globalized world. The positive impact of the inter-regulatory competition among health care regulators does depend on the need for the patients or consumer groups to form or exercise  their political influence. These findings are consistent with the Neocapture theory regulatory competition in an open market world. An implication of these findings is that in an globalized economy, endogenous policy making ensures that regulators to pursue public interests. Hence, welfare implication of Capture theories are overturned.