Industrial market structure and economic performance pdf

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industrial market structure and economic performance pdf

Industrial Market Structure and Economic Performance by F.M. Scherer

Bain is particularly famous for his studies on oligopoly and entry barriers, on which Paolo Sylos Labini also has seminal contributions. It is also useful to examine how Bain came to define the SCP paradigm, in order to appropriately derive both the essential characteristics and the development of the discipline, which in Italy is called Industrial Economics and Policy. He studied at the University of California in Los Angeles, where he took his BA in ; he then went to Harvard University, where his main field of study became Industrial Organization, and took his Ph. He was strongly influenced at Harvard by the teaching of E. Mason and J.
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Industrial market structure and economic performance

Metrics details. This paper develops an alternative theoretical and empirical case that economic structures are the fundamental cause of economic performance. Economic structures determine the rate of structural learning, affect institutional performance, influence the distribution of income and establish the direction of political transitions, thereby, economic performance. The paper highlights the feedback loops among institutions, political power and economic structures, thus, markets on their own will not ensure growth-enhancing transformations. The workings of this framework are illustrated using a USA case study, and it exposes the structural origins of the financial crisis. Why are some countries rich and others poor? Since Solow , the tentative answer has been differences in capital accumulation and technical change, but this was unsatisfactory since the theory failed to explain what accounts for these differences.

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In this study, we examine the role of market structure for growth in financially dependent industries from 10 emerging Asian economies over the period of — Our approach departs from existing studies in that we apply four alternative measures of market structure based on structural and non-structural approaches and compare their outcomes. Results indicate that higher bank concentration may slow down the growth of financially dependent industries. Bank competition on the other hand, allows financially dependent industries to grow faster. These findings are consistent across a number of sensitivity checks such as alternative measures of financial dependence, institutional factors including property rights, quality of accounting standards and bank ownership , and endogeneity consideration. Therefore, regulatory authorities need to be careful while pursuing a consolidation policy for banking sector in emerging Asian economies.

Markets, corporate behaviour and the state pp Cite as. Research in the field of industrial organization has made great progress during the past twenty years with the statistical testing of hypotheses about the effects of the structures of markets on their social performance. Concentrating principally on allocative efficiency but also on some aspects of technical efficiency and progressiveness , researchers have confirmed a number of elements of market structure predicted by the theory of markets as significant determinants of performance. Although most of this research has dealt with the United States economy, at least some of these structure-performance hypotheses have been confirmed for several other industrial countries as well, indeed, in one test the structure of these relations proved to be identical between two countries, the United Kingdom and United States Khalilzadeh-Shirazi, , chapter 3. The conventional structure-performance relations have gained strong statistical confirmation even in economies such as France and Japan where one might expect intervening private institutions and public policies to overwhelm them.

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