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The Effects of Market Opening on the Korean Retail Industry

Author

Listed:
  • Sang Young Moon

    (Dong-Eui University)

  • Bongchan Ha

    (Pukyong National University)

Abstract

This paper studies whether the opening of the Korean retail industry in 1996 has positively affected productivity and efficiency in the retail industry over time. We have found that the productivity of firms in the Korean retail industry has improved significantly since the market opening and that market efficiency has increased in the sense that the higher productivity firms have a larger market share. However, this productivity improvement has not been observed uniformly among sectors. Rather, it has been concentrated at large discount stores, CVS, nonstore retailing, and other new venues. The new venues and concentrated markets have been structural changes in the traditional Korean retail market.

Suggested Citation

  • Sang Young Moon & Bongchan Ha, 2009. "The Effects of Market Opening on the Korean Retail Industry," Korean Economic Review, Korean Economic Association, vol. 25, pages 413-427.
    • Handle: RePEc:kea:keappr:ker-20091231-25-2-10
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    File URL: http://keapaper.kea.ne.kr/RePEc/kea/keappr/KER-20091231-25-2-10.pdf
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    More about this item

    Keywords

    Retail Industry; Market Opening; Productivity; Structural Change;
    All these keywords.

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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