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Investigating Market Structure of the Greek Manufacturing Industry: A Hall-Roeger Approach

  • Anthony Rezitis

    ()

  • Maria Kalantzi

    ()

This paper investigates the market structure of the Greek manufacturing industry over the period 1984–2007 at the two-digit SIC level. Three models are used to investigate the competitive conditions of the manufacturing industry. The paper investigates factors affecting the markup of the Greek manufacturing industry by estimating two additional models, i.e., the markup cross-sectional model and the markup time-series model, for identifying both sectoral and intertemporal factors. The empirical results indicate that the whole Greek manufacturing industry, as well as each sector of the industry, operates in non-competitive conditions for each year during the period 1984–2007. The findings also support that labor intensity, the sector size, and the number of establishments influence the markup at the sectoral level, while labor intensity, and the growth and the number of establishments affect the markup over time. Copyright International Atlantic Economic Society 2011

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File URL: http://hdl.handle.net/10.1007/s11293-011-9286-y
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Article provided by International Atlantic Economic Society in its journal Atlantic Economic Journal.

Volume (Year): 39 (2011)
Issue (Month): 4 (December)
Pages: 383-400

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Handle: RePEc:kap:atlecj:v:39:y:2011:i:4:p:383-400
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  1. Connor, John M. & Peterson, Everett B., 1991. "Market-Structure Determinants Of National Brand-Private Label Price Differences Of Manufactured Food Products," Working Papers 116099, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
  2. Ryan, Daniel J., 1997. "Trends in market power and productivity growth rates in US and Japanese manufacturing," Economics Letters, Elsevier, vol. 57(2), pages 183-187, December.
  3. Holger Görg & Frederic Warzynski, 2003. "Price Cost Margins and Exporting Behaviour: Evidence from Firm Level Data," Discussion Papers of DIW Berlin 365, DIW Berlin, German Institute for Economic Research.
  4. Robert E. Hall, 1986. "The Relation Between Price and Marginal Cost in U.S. Industry," NBER Working Papers 1785, National Bureau of Economic Research, Inc.
  5. Evren Ceritoglu, 2002. "The Cyclicality Of Mark-Up Ratios : The Case Of Turkish Industry," Working Papers 0204, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
  6. Wilhelmsson Fredrik, 2006. "Market Power and European Competition in the Swedish Food Industry," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 4(1), pages 1-26, October.
  7. Gerry E. Boyle, 2004. "Hall-Roeger Tests of Market Power in Irish Manufacturing Industries," The Economic and Social Review, Economic and Social Studies, vol. 35(3), pages 289-304.
  8. Roeger, Werner, 1995. "Can Imperfect Competition Explain the Difference between Primal and Dual Productivity Measures? Estimates for U.S. Manufacturing," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 316-30, April.
  9. Rumen Dobrinsky & Gabor Korosi & Nikolay Markov & Laszlo Halpern, 2004. "Firms’ Price Markups and Returns to Scale in Imperfect Markets - Bulgaria and Hungary," IEHAS Discussion Papers 0412, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  10. Kaludura Abayasiri-Silva, 1999. "Market Power in Australian Manufacturing Industry: A Confirmation of Hall's Hypothesis," Centre of Policy Studies/IMPACT Centre Working Papers g-132, Victoria University, Centre of Policy Studies/IMPACT Centre.
  11. Bhuyan, Sanjib & Lopez, Rigoberto A., 1998. "What Determines Welfare Losses From Oligopoly Power In The Food And Tobacco Industries?," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 27(2), October.
  12. repec:may:mayecw:n1210503 is not listed on IDEAS
  13. 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.
  14. K. Oustapassidis & A. Vlachvei & O. Notta, 2000. "Efficiency and Market Power in Greek Food Industries," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 623-629.
  15. Crespi John M. & Gao Zhifeng & Hanawa Peterson Hikaru, 2005. "A Simple Test of Oligopsony Behavior with an Application to Rice Milling," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 3(2), pages 1-19, August.
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