Advanced Search
MyIDEAS: Login to save this paper or follow this series

Classical Competition and Regulating Capital: Theory and Empirical Evidence

Contents:

Author Info

Abstract

In this article we discuss the salient features of the classical and neoclassical theories of competition and we test their fundamental propositions using data from Greek manufacturing industries. The cross section data of 3-digit (total 91) industries of the three (pooled together) census years show no evidence of a direct statistical relationship between the degree of concentration and profitability. The econometric analysis of time series data for 2-digit industries lends support to the hypothesis for the long-run tendential equalization of incremental rates of return to the economy’s average incremental rate of return.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://aphrodite.uom.gr/econwp/pdf/dp022011.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Department of Economics, University of Macedonia in its series Discussion Paper Series with number 2011_02.

as in new window
Length:
Date of creation: Feb 2011
Date of revision: Feb 2011
Handle: RePEc:mcd:mcddps:2011_02

Contact details of provider:
Web page: http://www.uom.gr/index.php?tmima=3

Related research

Keywords: Competition; regulating capital; incremental rate of return; tendential equalization.;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Mason, Patrick L., 1994. "An empirical derivation of the industry wage equation," MPRA Paper 11325, University Library of Munich, Germany.
  2. Vassilis Droucopoulos & Theodore Papadogonas, 2000. "Concentration Indices: Back to the Drawing Board Patterns in Neighboring Areas," Ekonomia, Cyprus Economic Society and University of Cyprus, Cyprus Economic Society and University of Cyprus, vol. 4(1), pages 55-72, Summer.
  3. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, American Economic Association, vol. 72(1), pages 1-15, March.
  4. Maria Christidou & Theodore Panagiotidis, 2010. "Purchasing Power Parity and the European Single Currency: Some New Evidence," Koç University-TUSIAD Economic Research Forum Working Papers, Koc University-TUSIAD Economic Research Forum 1018, Koc University-TUSIAD Economic Research Forum.
  5. Mill, John Stuart, 1848. "Principles of Political Economy (I): Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, McMaster University Archive for the History of Economic Thought, volume 1, number mill1848-1.
  6. Clifton, James A, 1977. "Competition and the Evolution of the Capitalist Mode of Production," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 1(2), pages 137-51, June.
  7. Shaikh, Anwar, 1980. "Marxian Competition versus Perfect Competition: Further Comments on the So-Called Choice of Technique," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 4(1), pages 75-83, March.
  8. Schmalensee, Richard, 1989. "Inter-industry studies of structure and performance," Handbook of Industrial Organization, Elsevier, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 16, pages 951-1009 Elsevier.
  9. Ajit Zacharias, 2001. "Testing Profit Rate Equalization in the U.S. Manufacturing Sector: 1947-1998," Economics Working Paper Archive, Levy Economics Institute wp_321, Levy Economics Institute.
  10. n/a, 2001. "Balance of payments prospects in EMU," NIESR Discussion Papers, National Institute of Economic and Social Research 164, National Institute of Economic and Social Research.
  11. Anwar M. Shaikh, 1998. "The Stock Market and the Corporate Sector: A Profit-Based Approach," Macroeconomics, EconWPA 9811007, EconWPA.
  12. Flaschel, Peter & Semmler, Willi, 1987. "Classical and Neoclassical Competitive Adjustment Processes," The Manchester School of Economic & Social Studies, University of Manchester, University of Manchester, vol. 55(1), pages 13-37, March.
  13. Persefoni Tsaliki & Lefteris Tsoulfidis, 1998. "Alternative Theories of Competition: evidence from Greek manufacturing," International Review of Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 12(2), pages 187-204.
  14. Mill, John Stuart, 1848. "Principles of Political Economy (II): Distribution," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, McMaster University Archive for the History of Economic Thought, volume 2, number mill1848-2.
  15. Kapetanios, George & Shin, Yongcheol & Snell, Andy, 2003. "Testing for a unit root in the nonlinear STAR framework," Journal of Econometrics, Elsevier, Elsevier, vol. 112(2), pages 359-379, February.
  16. Andrea Vaona, 2011. "An empirical investigation into the gravitation and convergence of industry return rates in OECD countries," International Review of Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 25(4), pages 465-502.
  17. Kaskarelis, Ioannis & Tsoulfidis, Lefteris, 1999. "Inflation, Demand, Import Competition and Markups in Greek Manufacturing Industries," Economia Internazionale / International Economics, Camera di Commercio di Genova, Camera di Commercio di Genova, vol. 52(2), pages 151-171.
  18. Mill, John Stuart, 1848. "Principles of Political Economy (III): Exchange," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, McMaster University Archive for the History of Economic Thought, volume 3, number mill1848-3.
  19. Lefteris Tsoulfidis & Persefoni Tsaliki, 2005. "Marxian Theory of Competition and the Concept of Regulating Capital: Evidence from Greek Manufacturing," Review of Radical Political Economics, Union for Radical Political Economics, Union for Radical Political Economics, vol. 37(1), pages 5-22, March.
  20. Dumenil, Gerard & Levy, Dominique, 1987. "The Dynamics of Competition: A Restoration of the Classical Analysis," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 11(2), pages 133-64, June.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Stefania Tescari & Andrea Vaona, 2013. "Regulating rates of return do gravitate in US manufacturing!," Working Papers, University of Verona, Department of Economics 19/2013, University of Verona, Department of Economics.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:mcd:mcddps:2011_02. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Theodore Panagiotidis).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.