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Antitrust issues in international comparisons of market structure

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  • Hirschberg, Joseph G.
  • Maasoumi, Esfandiar
  • Slottje, Daniel
  • Arize, Augustine C.

Abstract

The analysis and definition of markets, their structure, and concentration, especially for international comparisons, are complicated by a lack of adequate and comparable data. This is particularly so for multi-product and multinational firms. For instance, the U.S. Department of Commerce reports measures of industry concentration which do not embody either the control of subsidiary firms or the possible multinational nature of their ownership. Nor are these reported measures consistently based on sales data. Other countries produce similar reports, but these studies are generally not comparable to U.S. due, in part, to incompatible sector definitions. Few government- sponsored studies provide firm-level detail or timely information. Also, given the widespread multinational nature of many larger firms, an international analysis of ownership and operations is necessary. This paper addresses the issues encountered in the construction of international market data from the existing financial reports, and provides methods for the comparison of measures of market concentration and industry diversity across countries. Using 1991 financial data, a firm level data set is constructed and used to compute comparable measures of market concentration and industry diversity in the food industries for the U.S. and European Community (EC). One innovation is to impute the distribution of sales of sub-code products by a firm based on simulations as well as nonparametric estimates of an existing data set. 1 We wish to acknowledge the help of Peter Voros for his efforts in collecting the data on which much of this analysis is based. We also wish to thank Dennis Henderson, Ian Sheldon and Michael Ferrantino for their comments on an earlier version of this paper. Support for Hirschberg?s research came from the USDA NC-194 Project.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Econometrics.

Volume (Year): 113 (2003)
Issue (Month): 1 (March)
Pages: 129-158

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Handle: RePEc:eee:econom:v:113:y:2003:i:1:p:129-158

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Web page: http://www.elsevier.com/locate/jeconom

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References

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  1. Hyde, Charles & Perloff, Jeffrey M, 1993. "Can market power be estimated?," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt6d7127mr, Department of Agricultural & Resource Economics, UC Berkeley.
  2. Utton, M A, 1977. "Large Firm Diversification in British Manufacturing Industry," Economic Journal, Royal Economic Society, vol. 87(345), pages 96-113, March.
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  4. repec:cdl:agrebk:677098 is not listed on IDEAS
  5. repec:cdl:agrebk:677104 is not listed on IDEAS
  6. Geroski, Paul A, 1988. "In Pursuit of Monopoly Power: Recent Quantitative Work in Industrial Economics," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 3(2), pages 107-23, April.
  7. Berry, Charles H, 1971. "Corporate Growth and Diversification," Journal of Law and Economics, University of Chicago Press, vol. 14(2), pages 371-84, October.
  8. Schmalensee, Richard., 1987. "Inter-industry studies of structure and performance," Working papers 1874-87., Massachusetts Institute of Technology (MIT), Sloan School of Management.
  9. Buschena, David E. & Perloff, Jeffrey M, 1990. "The creation of dominant firm market power in the coconut oil export market," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt9c5124mq, Department of Agricultural & Resource Economics, UC Berkeley.
  10. Clarke, R & Davies, S W, 1983. "Aggregate Concentration, Market Concentration and Diversification," Economic Journal, Royal Economic Society, vol. 93(369), pages 182-92, March.
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Cited by:
  1. Arize, A. C. & Malindretos, John & Grivoyannis, Elias C., 2005. "Inflation-rate volatility and money demand: Evidence from less developed countries," International Review of Economics & Finance, Elsevier, vol. 14(1), pages 57-80.
  2. David P.Byrne & Roger Ware, 2011. "Price Cycles and Price Leadership in Gasoline Markets: New Evidence from Canada," Department of Economics - Working Papers Series 1124, The University of Melbourne.

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