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Market Power Effects of Supply Control and Dairy Market Deregulation

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Author Info

  • Jonsson, Thomas

    ()
    (Department of Economics, Umeå University)

Abstract

This paper uses the Bresnahan-Lau framework to analyze whether policy reforms specifically affecting Swedish dairy cooperatives, i.e. the two-price system (an input quota, 1986-1991) and the general deregulation of dairy policy (1991-1994), had any market power effects on the Swedish butter market. It is hypothesized that the two-price system enhanced market power, while the deregulation, making exports of butter less profitable, led to a lower level of market power exercised by dairy cooperatives. To account for non-stationary variables, a dynamic error correction model is adopted. The results show that the null hypotheses of no market power effect, for either of the two reforms, cannot be rejected at any reasonable significance level.

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Bibliographic Info

Paper provided by Umeå University, Department of Economics in its series Umeå Economic Studies with number 721.

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Length: 22 pages
Date of creation: 02 Nov 2007
Date of revision:
Handle: RePEc:hhs:umnees:0721

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Postal: Department of Economics, Umeå University, S-901 87 Umeå, Sweden
Phone: 090 - 786 61 42
Fax: 090 - 77 23 02
Email:
Web page: http://www.econ.umu.se/
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Keywords: agricultural policy; cooperatives; market power;

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