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Market Structure and Market Performance in the Korean Manufacturing Industries: Panel Data Approach (in Korean)

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  • Qwang-hoon Lee

    (Chung-Ang University)

Abstract

The relationship between market structure and performance is investigated by estimating the relationship between the degree of market concentration, measured by Herfindahl-Hershmann Index (HHI), and profits rate. For this purpose, a panel dataset is constructed from the 5-digit level industry data for the period 1999-2003. Considering the simultaneity between market structure and performance, 2SLS estimation is applied to the profits rate equation. Results show that the HHI has a consistent positive effect on the profits rate. Especially, this positive effect is much stronger in the group of less export oriented industries. This positive relationship becomes very fragile without the consideration of the simultaneity.

Suggested Citation

  • Qwang-hoon Lee, 2006. "Market Structure and Market Performance in the Korean Manufacturing Industries: Panel Data Approach (in Korean)," Economic Analysis (Quarterly), Economic Research Institute, Bank of Korea, vol. 12(4), pages 112-133, December.
    • Handle: RePEc:bok:journl:v:12:y:2006:i:4:p:112-133
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    More about this item

    Keywords

    sturcture; perfoemance; HHI; profits; panel;
    All these keywords.

    JEL classification:

    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L6 - Industrial Organization - - Industry Studies: Manufacturing

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