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Imperfect Competition and Strategic Trade Theory: Evidence for International Food and Agricultural Markets

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Author Info
Jeffrey Reimer (Oregon State University)
Kyle Stiegert (University of Wisconsin-Madison)

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Abstract

Strategic trade theory offers a way of conceptualizing and testing for strategic government interventions in imperfectly competitive international markets. This survey critically assesses recent empirical evidence, with a focus on food and agricultural markets. One finding is that while many international markets are characterized by oligopoly, price-cost markups tend to be small, and the potential gains from intervention are modest at best. In turn, empirical work has turned up few examples in which government intervention has been optimal in a strategic trade sense. Nonetheless, governments are found to frequently intervene on behalf of domestic firms and play a major role in shaping the nature of international competition. Suggestions for future research are made.

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Publisher Info
Article provided by Berkeley Electronic Press in its journal Journal of Agricultural & Food Industrial Organization.

Volume (Year): 4 (2006)
Issue (Month): 1 ()
Pages: 1134-1134
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Handle: RePEc:bep:bjafio:v:4:y:2006:i:1:p:1134-1134

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Related research
Keywords: imperfect competition oligopoly protectionism strategic trade

References listed on IDEAS
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  5. James A. Brander & Anming Zhang, 1990. "Market Conduct in the Airline Industry: An Empirical Investigation," RAND Journal of Economics, The RAND Corporation, vol. 21(4), pages 567-583, Winter. [Downloadable!] (restricted)
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  8. Spencer, Barbara J & Jones, Ronald W, 1991. "Vertical Foreclosure and International Trade Policy," Review of Economic Studies, Blackwell Publishing, vol. 58(1), pages 153-70, January. [Downloadable!] (restricted)
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  9. Dixit, Avinash K. & Grossman, Gene M., 1986. "Targeted export promotion with several oligopolistic industries," Journal of International Economics, Elsevier, vol. 21(3-4), pages 233-249, November. [Downloadable!] (restricted)
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  10. Dick, Andrew R., 1993. "Strategic trade policy and welfare : The empirical consequences of cross-ownership," Journal of International Economics, Elsevier, vol. 35(3-4), pages 227-249, November. [Downloadable!] (restricted)
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  13. Neary, J. Peter, 1994. "Cost asymmetries in international subsidy games: Should governments help winners or losers?," Journal of International Economics, Elsevier, vol. 37(3-4), pages 197-218, November. [Downloadable!] (restricted)
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  14. Gruenspecht, Howard K., 1988. "Export subsidies for differentiated products," Journal of International Economics, Elsevier, vol. 24(3-4), pages 331-344, May. [Downloadable!] (restricted)
  15. Fengxia Dong & Thomas L. Marsh & Kyle W. Stiegert, 2006. "State Trading Enterprises in a Differentiated Product Environment: The Case of Global Malting Barley Markets," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 88(1), pages 90-103, 02. [Downloadable!] (restricted)
  16. Eaton, Jonathan & Grossman, Gene M, 1986. "Optimal Trade and Industrial Policy under Oligopoly," The Quarterly Journal of Economics, MIT Press, vol. 101(2), pages 383-406, May. [Downloadable!] (restricted)
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  17. Brander, James A. & Zhang, Anming, 1993. "Dynamic oligopoly behaviour in the airline industry," International Journal of Industrial Organization, Elsevier, vol. 11(3), pages 407-435, September. [Downloadable!] (restricted)
  18. Qiu, Larry D., 1995. "Why can't countervailing duties deter export subsidization?," Journal of International Economics, Elsevier, vol. 39(3-4), pages 249-272, November. [Downloadable!] (restricted)
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  20. Karp, Larry S & Perloff, Jeffrey M, 1989. "Dynamic Oligopoly in the Rice Export Market," The Review of Economics and Statistics, MIT Press, vol. 71(3), pages 462-70, August. [Downloadable!] (restricted)
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  24. Arnade, Carlos & Pick, Daniel & Gopinath, Munisamy, 1998. "Testing Oligopoly Power in Domestic and Export Markets," Applied Economics, Taylor and Francis Journals, vol. 30(6), pages 753-60, June. [Downloadable!] (restricted)
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  28. Maggi, Giovanni, 1996. "Strategic Trade Policies with Endogenous Mode of Competition," American Economic Review, American Economic Association, vol. 86(1), pages 237-58, March. [Downloadable!] (restricted)
  29. Sexton, Richard J, 2000. " Industrialization and Consolidation in the U.S. Food Sector: Implications for Competition and Welfare," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 82(5), pages 1087-1104. [Downloadable!] (restricted)
  30. Hamilton, Stephen F & Stiegert, Kyle, 2000. "Vertical Coordination, Antitrust Law, and International Trade," Journal of Law & Economics, University of Chicago Press, vol. 43(1), pages 143-56, April.
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