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Policy Reforms and Evolution of Market Structure in an Emerging Economy: The Case of India

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  • M. Patibandla

Abstract

Policy reforms have facilitated entry of quite a few transnational corporations (TNC) into Indian industries. This has important implications for the evolution of competitive industrial structure. This article focuses on the issue of the response mechanism of local firms to competition from new entrant TNCs and the possible strategies of TNCs in penetrating the Indian market. It develops a conceptual framework by incorporating elements of intangible assets theory and new institutional economics into a simple sequential entry oligopoly model. This yields interesting insights into qualitative behaviour of firms in the post-reforms period. A few hypotheses drawn from the conceptual framework are empirically tested on the basis of firm level panel data drawn from a set of Indian industries.

Suggested Citation

  • M. Patibandla, 2002. "Policy Reforms and Evolution of Market Structure in an Emerging Economy: The Case of India," Journal of Development Studies, Taylor & Francis Journals, vol. 38(3), pages 95-118.
    • Handle: RePEc:taf:jdevst:v:38:y:2002:i:3:p:95-118
    DOI: 10.1080/00220380412331322361
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    Citations

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    Cited by:

    1. Patibandla, Murali, 2002. "Intangible Assets, Multinational Firms and Joint Ventures: The Case of Financial Services in Developing Economies," Working Papers 2-2002, Copenhagen Business School, Department of International Economics and Management.
    2. Patibandla, Murali & Petersen, Bent, 2002. "Role of Transnational Corporations in the Evolution of a High-Tech Industry: The Case of India's Software Industry," World Development, Elsevier, vol. 30(9), pages 1561-1577, September.
    3. Patibandla, Murali, 2006. "Equity pattern, corporate governance and performance: A study of India's corporate sector," Journal of Economic Behavior & Organization, Elsevier, vol. 59(1), pages 29-44, January.
    4. Kambhampati, Uma S. & Kattuman, Paul A., 2009. "Growth responses to competitive shocks: Market structure dynamics under liberalisation," Structural Change and Economic Dynamics, Elsevier, vol. 20(2), pages 114-125, June.
    5. Patibandla, Murali & Petersen, Bent, 2004. ""Role of Transnational Corporations in the Evolution of a High-Tech Industry: The Case of India's Software Industry"--A Reply," World Development, Elsevier, vol. 32(3), pages 561-566, March.
    6. Murali Patibandla, 2012. "Dynamics of Joint Ventures between Multinational Enterprises and Local Firms in Emerging Economies: The Case of Financial Services," Jindal Journal of Business Research, , vol. 1(2), pages 127-137, December.
    7. Weiping Liu & Jiatao Li, 2019. "Unbalanced Institutions in Market Transition: How Do They Matter for Firm Strategic Choices and Performance in Emerging Economies?," Management International Review, Springer, vol. 59(5), pages 675-702, October.
    8. Peter Lawrence & Arijit Mukherjee, 2002. "Price-Capping Regulation as a Protectionist Strategy in Developing Countries," Keele Economics Research Papers KERP 2002/18, Centre for Economic Research, Keele University.

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