Nothing Special   »   [go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/ags/aergaa/253495.html
   My bibliography  Save this article

Investigating market structure of the Greek food and beverages manufacturing industry: A Hall-Roeger approach

Author

Listed:
  • Rezitis, Anthony N.
  • Kalantizi, Maria A.
Abstract
This paper investigates the market structure of the Greek food and beverages manufacturing industry over the period 1984–2007 at the three-digit SIC level. Based on the Hall-Roeger approach (1995), three models are used to investigate the competitive conditions in the industry. The first model (Hall-Roeger model) assesses the markup in the whole industry over the period 1984–2007. The second model (HallRoeger cross-sectional model) tests the extent of the markup for each of the nine sectors of the industry over the period 1984–2007, whereas the third (Hall-Roeger time-series model) estimates the markup for the whole industry for certain sub-periods of the period 1984–2007. The present paper also investigates factors affecting the markup in the Greek food and beverages manufacturing industry during the period 1984–2007. The empirical results indicate that the whole Greek food and beverages manufacturing industry, as well as each sector of the industry, operates in non-competitive conditions during the period 1984–2007. Furthermore, the industry operates in non-competitive conditions for certain sub-periods of the period 1984–2007. The findings also support the view that the sector size, capital intensity and the number of establishments influence the markup in Greek food and beverages manufacturing during the period 1984–2007

Suggested Citation

  • Rezitis, Anthony N. & Kalantizi, Maria A., 2012. "Investigating market structure of the Greek food and beverages manufacturing industry: A Hall-Roeger approach," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 13(1), pages 1-17.
    • Handle: RePEc:ags:aergaa:253495
    DOI: 10.22004/ag.econ.253495
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/253495/files/13_1_4.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.253495?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Hindriks, F.A., 1999. "Non-Competitive Rents in Dutch Manufacturing: Conduct and Performance in the New Empirical Industrial Organization," Papers 9905/e, NEUHUYS - RESEARCH INSTITUTE FOR SMALL AND MEDIUM.
    2. Matthew D. Shapiro, 1987. "Measuring Market Power in U.S. Industry," Cowles Foundation Discussion Papers 828, Cowles Foundation for Research in Economics, Yale University.
    3. Rumen Dobrinsky & Gabor Korosi & Nikolay Markov & Laszlo Halpern, 2004. "Firms’ Price Markups and Returns to Scale in Imperfect Markets - Bulgaria and Hungary," CERS-IE WORKING PAPERS 0412, Institute of Economics, Centre for Economic and Regional Studies.
    4. Ryan, Daniel J., 1997. "Trends in market power and productivity growth rates in US and Japanese manufacturing," Economics Letters, Elsevier, vol. 57(2), pages 183-187, December.
    5. Anthony Rezitis & Maria Kalantzi, 2011. "Investigating Market Structure of the Greek Manufacturing Industry: A Hall-Roeger Approach," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 39(4), pages 383-400, December.
    6. Crespi John M. & Gao Zhifeng & Hanawa Peterson Hikaru, 2005. "A Simple Test of Oligopsony Behavior with an Application to Rice Milling," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 3(2), pages 1-19, August.
    7. Joaquim Oliveira Martins & Stefano Scarpetta & Dirk Pilat, 1996. "Mark-Up Ratios in Manufacturing Industries: Estimates for 14 OECD Countries," OECD Economics Department Working Papers 162, OECD Publishing.
    8. Rafaelita M. Aldaba, 2005. "The Impact of Market Reforms on Competition, Structure and Performance of the Philippine Economy," Trade Working Papers 22306, East Asian Bureau of Economic Research.
    9. Bhuyan, Sanjib & Lopez, Rigoberto A., 1998. "What Determines Welfare Losses from Oligopoly Power in the Food and Tobacco Industries?," Agricultural and Resource Economics Review, Cambridge University Press, vol. 27(2), pages 258-265, October.
    10. Roeger, Werner, 1995. "Can Imperfect Competition Explain the Difference between Primal and Dual Productivity Measures? Estimates for U.S. Manufacturing," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 316-330, April.
    11. Dobbelaere, Sabien, 2004. "Estimation of price-cost margins and union bargaining power for Belgian manufacturing," International Journal of Industrial Organization, Elsevier, vol. 22(10), pages 1381-1398, December.
    12. Dobrinsky, Rumen & Korosi, Gabor & Markov, Nikolay & Halpern, Laszlo, 2006. "Price markups and returns to scale in imperfect markets: Bulgaria and Hungary," Journal of Comparative Economics, Elsevier, vol. 34(1), pages 92-110, March.
    13. Frank Hindriks, 1999. "Non-competitive rents in Dutch manufacturing," Scales Research Reports H199905, EIM Business and Policy Research.
    14. K. Oustapassidis & A. Vlachvei & O. Notta, 2000. "Efficiency and Market Power in Greek Food Industries," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 623-629.
    15. Millan, Joaquin A, 1999. "Short-Run Equilibrium and Market Power in the Spanish Food, Drink and Tobacco Industries," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 26(2), pages 229-243, June.
    16. Evren Ceritoglu, 2002. "The Cyclicality Of Mark-Up Ratios : The Case Of Turkish Industry," Working Papers 0204, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    17. Norrbin, Stefan C, 1993. "The Relation between Price and Marginal Cost in U.S. Industry: A Contradiction," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1149-1164, December.
    18. Wilhelmsson Fredrik, 2006. "Market Power and European Competition in the Swedish Food Industry," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 4(1), pages 1-26, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Michael L. Polemis & Panagiotis N. Fotis, 2016. "Measuring the Magnitude of Significant Market Power in the Manufacturing and Services Industries: A Cross Country Approach," Journal of Industry, Competition and Trade, Springer, vol. 16(1), pages 51-79, March.
    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. Pascal L. Ghazalian, 2016. "Processed Food Trade of Greece with EU and Non-EU Countries: An Empirical Analysis," International Journal of Food and Beverage Manufacturing and Business Models (IJFBMBM), IGI Global, vol. 1(2), pages 15-30, July.
    4. Vlontzos, George & Theodoridis, Alexandros, 2013. "Efficiency and Productivity Change in the Greek Dairy Industry," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 14(2), pages 1-15.
    5. Michael L. Polemis, 2014. "Panel Data Estimation Techniques and Mark Up Ratios," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 69-84.
    6. Michael L. Polemis & Aikaterina Oikonomou, 2016. "Does regulation affect market power? Evidence from Greek SMEs," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 66(4), pages 43-60, October-D.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Anthony Rezitis & Maria Kalantzi, 2011. "Investigating Market Structure of the Greek Manufacturing Industry: A Hall-Roeger Approach," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 39(4), pages 383-400, December.
    2. Chrysovalantis Amountzias, 2018. "The Effects of Competition, Liquidity and Exports on Markups: Evidence from the UK Food and Beverages Sector," Journal of Industry, Competition and Trade, Springer, vol. 18(2), pages 187-208, June.
    3. Rezitis, Anthony N., 2010. "Evaluating the state of competition of the Greek banking industry," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(1), pages 68-90, February.
    4. Chrysovalantis Amountzias, 2017. "An Investigation of the Degree of Market Power in the Greek Manufacturing and Service Industries," Journal of Industry, Competition and Trade, Springer, vol. 17(4), pages 447-464, December.
    5. Anthony N. Rezitis & Maria A. Kalantzi, 2016. "Evaluating the state of competition and the welfare losses in the Greek manufacturing sector: an extended Hall–Roeger approach," Empirical Economics, Springer, vol. 50(4), pages 1275-1302, June.
    6. Rosen Marinov, 2010. "Competitive Pressure in Transition: A Role for Trade and Competition Policies?," Journal of Industry, Competition and Trade, Springer, vol. 10(1), pages 1-31, March.
    7. Perekhozhuk, O. & Chezhia, G. & Glauben, T., 2018. "Testing for oligopsony power in the Kazakh grain processing industry: A Hall approach," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 275964, International Association of Agricultural Economists.
    8. Dobrinsky, Rumen & Korosi, Gabor & Markov, Nikolay & Halpern, Laszlo, 2006. "Price markups and returns to scale in imperfect markets: Bulgaria and Hungary," Journal of Comparative Economics, Elsevier, vol. 34(1), pages 92-110, March.
    9. Michael L. Polemis & Panagiotis N. Fotis, 2016. "Measuring the Magnitude of Significant Market Power in the Manufacturing and Services Industries: A Cross Country Approach," Journal of Industry, Competition and Trade, Springer, vol. 16(1), pages 51-79, March.
    10. Henry Nieuwenhuijsen & Gerrit de Wit & Frank Hindriks, 2000. "Comparative advantages in estimating markups," Scales Research Reports H200003, EIM Business and Policy Research.
    11. Rumen Dobrinsky & Gabor Korosi & Nikolay Markov & Laszlo Halpern, 2004. "Firms’ Price Markups and Returns to Scale in Imperfect Markets - Bulgaria and Hungary," CERS-IE WORKING PAPERS 0412, Institute of Economics, Centre for Economic and Regional Studies.
    12. 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.
    13. Antonio Bassanetti & Roberto Torrini & Francesco Zollino, "undated". "Changing Institutions in the European Market: the Impact on Mark-ups and Rents Allocation," Working Papers 11, Department of the Treasury, Ministry of the Economy and of Finance.
    14. Jan De Loecker & Frederic Warzynski, 2012. "Markups and Firm-Level Export Status," American Economic Review, American Economic Association, vol. 102(6), pages 2437-2471, October.
    15. Kemp-Benedict, Eric, 2014. "A Kaleckian Model with Intermediate Goods," MPRA Paper 57076, University Library of Munich, Germany.
    16. Claire Giordano & Francesco Zollino, 2017. "Macroeconomic estimates of Italy's mark-ups in the long-run, 1861-2012," Quaderni di storia economica (Economic History Working Papers) 39, Bank of Italy, Economic Research and International Relations Area.
    17. Ana Cristina Soares, 2020. "Price-cost margin and bargaining power in the European Union," Empirical Economics, Springer, vol. 59(5), pages 2093-2123, November.
    18. Michael L. Polemis, 2014. "Panel Data Estimation Techniques and Mark Up Ratios," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 69-84.
    19. Tor Jakob Klette, 1999. "Market Power, Scale Economies and Productivity: Estimates from a Panel of Establishment Data," Journal of Industrial Economics, Wiley Blackwell, vol. 47(4), pages 451-476, December.
    20. Carlos Figueira & Ricardo Pinheiro-Alves, 2023. "Evolution of price-cost margins during the troika intervention," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 22(3), pages 315-351, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aergaa:253495. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/etagrea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.