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The Price Effects of an Emerging Retail Market

  • Jiří Podpiera
  • Marie Raková

This paper analyzes the effects of a changing market structure on the price dynamics of final goods in an emerging Czech retail market. We estimate the extent of up-and downstream market power and find that the changing market structure was responsible for an average yearly price decrease of retailed products by 0.8 percentage points during 2000-2005. At the same time, however, we anticipate that a period of mergers and acquisitions that has already started could cause yearly price increases of retailed products by 1.2 percentage points—approximately 0.5 percentage points in the consumer price index inflation—over the next ten years.

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Article provided by M.E. Sharpe, Inc. in its journal Eastern European Economics.

Volume (Year): 47 (2009)
Issue (Month): 1 (January)
Pages: 92-105

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Handle: RePEc:mes:eaeuec:v:47:y:2009:i:1:p:92-105
Contact details of provider: Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=106044

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  1. Barros, Pedro Pita & Brito, Duarte & de Lucena, Diogo, 2006. "Mergers in the food retailing sector: An empirical investigation," European Economic Review, Elsevier, vol. 50(2), pages 447-468, February.
  2. Howard Smith, 2004. "Supermarket Choice and Supermarket Competition in Market�Equilibrium," Review of Economic Studies, Wiley Blackwell, vol. 71(1), pages 235-263, 01.
  3. repec:fiu:wpaper:0702 is not listed on IDEAS
  4. Janda, Karel & Rausser, Gordon C. & McCluskey, Jill, 1998. "Food import demand in the Czech Republic," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt14j5p75j, Department of Agricultural & Resource Economics, UC Berkeley.
  5. Peter Thompson & Mihaela Pintea, 2008. "Sorting, Selection, and Industry Shakeouts," Review of Industrial Organization, Springer, vol. 33(1), pages 23-40, August.
  6. Newmark, Craig M., 1990. "A new test of the price-concentration relationship in grocery retailing," Economics Letters, Elsevier, vol. 33(4), pages 369-373, August.
  7. Asplund, Marcus & Friberg, Richard, 2002. " Food Prices and Market Structure in Sweden," Scandinavian Journal of Economics, Wiley Blackwell, vol. 104(4), pages 547-66, December.
  8. Lamm, R McFall, 1981. "Prices and Concentration in the Food Retailing Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 30(1), pages 67-78, September.
  9. Horvath, Michael & Schivardi, Fabiano & Woywode, Michael, 2001. "On industry life-cycles: delay, entry, and shakeout in beer brewing," International Journal of Industrial Organization, Elsevier, vol. 19(7), pages 1023-1052, July.
  10. Hopenhayn, Hugo A, 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica, Econometric Society, vol. 60(5), pages 1127-50, September.
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