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Competitive Conditions in the Turkish Non-Life Insurance Industry

Listed author(s):
  • Kasman Adnan

    (Dokuz Eylul University)

  • Turgutlu Evrim

    (Dokuz Eylul University)

Registered author(s):

    This paper investigates the evolution of market structure in the Turkish insurance industry over the period 1996-2004, using the Panzar and Rosse (1987) methodology. The sample period has been divided into three sub-periods (1996-1998, 1999-2001, and 2002-2004). The results suggest that in the first and second sub-periods, the insurance firms operating in the Turkish insurance industry earned revenues under the monopoly or conjectural variations short-run oligopoly. In the third period, however, the results indicate that the insurance market was neither monopolistic nor perfectly competitive. Firm revenues were earned as if operating under monopolistic competition. Overall, the results show that market concentration is not significantly related to competitive conduct.

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    File URL: https://www.degruyter.com/view/j/rmeef.2008.4.1/rmeef.2008.4.1.1071/rmeef.2008.4.1.1071.xml?format=INT
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    Article provided by De Gruyter in its journal Review of Middle East Economics and Finance.

    Volume (Year): 4 (2008)
    Issue (Month): 1 (January)
    Pages: 81-96

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    Handle: RePEc:bpj:rmeecf:v:4:y:2008:i:1:n:5
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    1. Cummins, J. David & Rubio-Misas, Maria & Zi, Hongmin, 2004. "The effect of organizational structure on efficiency: Evidence from the Spanish insurance industry," Journal of Banking & Finance, Elsevier, vol. 28(12), pages 3113-3150, December.
    2. Panzar, John C & Rosse, James N, 1987. "Testing for "Monopoly" Equilibrium," Journal of Industrial Economics, Wiley Blackwell, vol. 35(4), pages 443-456, June.
    3. J.A. Bikker & K. Haaf, 2001. "Competition, Concentration and their Relationship: an EmpiricalAnalysis of the Banking Industry," DNB Staff Reports (discontinued) 68, Netherlands Central Bank.
    4. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2006. "Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities," Cahiers de recherche 0616, CIRPEE.
    5. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    6. J. David Cummins & Hongmin Zi, 1997. "Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry," Center for Financial Institutions Working Papers 97-03, Wharton School Center for Financial Institutions, University of Pennsylvania.
    7. Tuncay ÇELİK & Muhittin KAPLAN, 2007. "Türk sigortacılık sektöründe rekabet: 2002-2004," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 22(251), pages 50-62.
    8. Demsetz, Harold, 1973. "Industry Structure, Market Rivalry, and Public Policy," Journal of Law and Economics, University of Chicago Press, vol. 16(1), pages 1-9, April.
    9. Smirlock, Michael, 1985. "Evidence on the (Non) Relationship between Concentration and Profitability in Banking," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 17(1), pages 69-83, February.
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