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The competitive conditions in the OECD manufacturing industry

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  • Nicholas Apergis
  • Michael L. Polemis

Abstract

The goal of this study was to assess the intensity of competition in the OECD manufacturing industry by using the Panzar and Rosse index over the period 1970-2011. For this purpose, we use the fully modified OLS method and second-generation unit root analysis to investigate the level of competition across two-digit manufacturing sectors. The results are robust and consistent with similar studies, leading to the rejection of perfect collusion and perfect competition, while providing evidence in favour of monopolistic competition. Similarly to other empirical studies, H -statistics are shown to be heterogeneous across manufacturing sectors. We argue that more concentrated sectors such as food and beverages, motor vehicles and furniture have low levels of H -statistic being thus less competitive than other industries (i.e. computers transportation equipment, printing and chemicals), where the H -statistic is closer to unity. Lastly, our analysis will be a useful policy tool to achieve structural micro-economic goals.

Suggested Citation

  • Nicholas Apergis & Michael L. Polemis, 2015. "The competitive conditions in the OECD manufacturing industry," Applied Economics, Taylor & Francis Journals, vol. 47(8), pages 779-797, February.
    • Handle: RePEc:taf:applec:v:47:y:2015:i:8:p:779-797
    DOI: 10.1080/00036846.2014.980574
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    Cited by:

    1. Apergis, Nicholas & Fafaliou, Irene & Polemis, Michael L., 2016. "New evidence on assessing the level of competition in the European Union banking sector: A panel data approach," International Business Review, Elsevier, vol. 25(1), pages 395-407.
    2. Chrysovalantis Amountzias, 2019. "Pricing Decisions and Competitive Conduct Across Manufacturing Sectors: Evidence from 19 European Union Manufacturing Industries," Journal of Industry, Competition and Trade, Springer, vol. 19(3), pages 413-440, September.
    3. Rico Ihle & Ofir D. Rubin & Ziv Bar-Nahum & Roel Jongeneel, 2020. "Imperfect food markets in times of crisis: economic consequences of supply chain disruptions and fragmentation for local market power and urban vulnerability," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 12(4), pages 727-734, August.

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