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Market Power, Competition and Ownership in Emerging Economies

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Author Info
Jozef Konings
Patrick Van Cayseele
Frederic Warzynsi

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Abstract

In this paper, we analyze the effects of trade, concentration and ownership on the pricing behavior of firms in two transition countries, Bulgaria and Romania. We use an extensive dataset of more than 3000 firms and sector level information to estimate the effects of these three factors on the price cost margin (PCM) for the period 1994-1998. We find: 1) that trade disciplines the industry in concentrated industries; 2) that high concentration is associated with more market power; 3) that private and foreign owned firms heve higher PCMs. This indicates that the pricing strategy of private firms is inherently differentthan the one of State firms, either as the results of different objectives or induced by the abuse of market power.

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Publisher Info
Paper provided by LICOS - Centre for Institutions and Economic Performance, K.U.Leuven in its series LICOS Discussion Papers with number 11001.

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Length: 23 pages
Date of creation: 2001
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Handle: RePEc:lic:licosd:11001

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Related research
Keywords: market power; price cost margin; trade; competition; ownership; transition;

Find related papers by JEL classification:
L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Boundaries of Public and Private Enterprise; Privatization; Contracting Out
P3 - Economic Systems - - Socialist Institutions and Their Transitions

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  1. Maryanchyk Ivan, . "Market Structure and Profitability in a Transition Economy: Ukrainian Case," EERC Working Paper Series 03-06e, EERC Research Network, Russia and CIS. [Downloadable!]
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