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Mark-Up Pricing in Bulgarian Manufacturing

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  • Rumen Dobrinsky
  • Boyko Nikolov
  • Nikolay Markov
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    Abstract

    The pricing policy of Bulgarian manufacturing firms is analysed in the paper in the context of the theory of the price-setting behaviour of firms endowed with market power, and more specifically, using the notion of mark-up pricing. Using some recent derivations in the literature, we estimate mark-up ratios for Bulgarian manufacturing sectors at the NACE 2-digit and NACE 3-digit levels. The estimated mark-ups are then tested against a set of variables measuring the degree of competitive pressure on a sectoral level.

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    File URL: http://www.wdi.umich.edu/files/Publications/WorkingPapers/wp389.pdf
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    Bibliographic Info

    Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 389.

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    Length: pages
    Date of creation: 01 Jun 2001
    Date of revision:
    Handle: RePEc:wdi:papers:2001-389

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    Related research

    Keywords: mark-up pricing; competetive pressure; enterprise restructuring and adjustment; Bulgaria;

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    References

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    1. Robert E. Hall, 1988. "The Relation Between Price and Marginal Cost in U.S. Industry," NBER Working Papers 1785, National Bureau of Economic Research, Inc.
    2. Rikke Willemoes Joergensen & Svend Hylleberg, . "A Note on the Estimation of Markup Pricing in Manufacturing," Economics Working Papers 1998-6, School of Economics and Management, University of Aarhus.
    3. Joaquim Oliveira Martins & Stefano Scarpetta & Dirk Pilat, 1996. "Mark-Up Ratios in Manufacturing Industries: Estimates for 14 OECD Countries," OECD Economics Department Working Papers 162, OECD Publishing.
    4. Schaffer, Mark E., 1998. "Do Firms in Transition Economies Have Soft Budget Constraints? A Reconsideration of Concepts and Evidence," Journal of Comparative Economics, Elsevier, vol. 26(1), pages 80-103, March.
    5. Laszlo Halpern & Gabor Korost, 2001. "Mark-ups in the Hungarian Corporate Sector," William Davidson Institute Working Papers Series 411, William Davidson Institute at the University of Michigan.
    6. Joaquim Oliveira Martins & Stefano Scarpetta, 1999. "The Levels and Cyclical Behaviour of Mark-ups Across Countries and Market Structures," OECD Economics Department Working Papers 213, OECD Publishing.
    7. Eichner, Alfred S, 1973. "A Theory of the Determination of the Mark-up Under Oligopoly," Economic Journal, Royal Economic Society, vol. 83(332), pages 1184-1200, December.
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    Cited by:
    1. Rumen Dobrinsky & Gábor Korösi & Nikolay Markov & László Halpern, 2004. "Firms’ Price Markups and Returns to Scale in Imperfect Markets: Bulgaria and Hungary," William Davidson Institute Working Papers Series 2004-710, William Davidson Institute at the University of Michigan.

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