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The Importance Of Industry Structure: Lessons From The Australian Wine Industry

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  • Taylor, Philip J.

Abstract

Transaction costs are a large proportion of the cost structure along the value chains of most industries, especially the food and beverage industries. Competition forces industries to structure their value chains to minimise transaction costs but, in agriculture, this process is commonly impeded by government intervention. In Australia, this has resulted in severe distortions to the structure of most agricultural industries. The wine industry, particularly in South Australia, has avoided or overcome these distortions more effectively than most and its current international competitiveness is the result. The paper proposes an analytical framework for assessing industry structure, describes the Australian wine industry in those terms and draws implications for other food and beverage industries.

Suggested Citation

  • Taylor, Philip J., 2001. "The Importance Of Industry Structure: Lessons From The Australian Wine Industry," 2001 Conference (45th), January 23-25, 2001, Adelaide, Australia 125979, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare01:125979
    DOI: 10.22004/ag.econ.125979
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    References listed on IDEAS

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    1. Hansmann, Henry, 1988. "Ownership of the Firm," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 4(2), pages 267-304, Fall.
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