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Investigating Market Structure of the Greek Manufacturing Industry: A Hall-Roeger Approach

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  • Anthony Rezitis
  • Maria Kalantzi

Abstract

This paper investigates the market structure of the Greek manufacturing industry over the period 1984–2007 at the two-digit SIC level. Three models are used to investigate the competitive conditions of the manufacturing industry. The paper investigates factors affecting the markup of the Greek manufacturing industry by estimating two additional models, i.e., the markup cross-sectional model and the markup time-series model, for identifying both sectoral and intertemporal factors. The empirical results indicate that the whole Greek manufacturing industry, as well as each sector of the industry, operates in non-competitive conditions for each year during the period 1984–2007. The findings also support that labor intensity, the sector size, and the number of establishments influence the markup at the sectoral level, while labor intensity, and the growth and the number of establishments affect the markup over time. Copyright International Atlantic Economic Society 2011

Suggested Citation

  • 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.
    • Handle: RePEc:kap:atlecj:v:39:y:2011:i:4:p:383-400
    DOI: 10.1007/s11293-011-9286-y
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Gitana Dudzevičiūtė & Gitana Dudzevičiūtė, 2013. "Lithuanian manufacturing trends in the context of developed and developing countries," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 1(1), pages 55-66, September.
    2. Michael Polemis & Panagiotis 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.
    3. 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.
    4. 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.
    5. Michael L. Polemis, 2014. "Measuring market power in the Greek manufacturing and services industries," International Review of Applied Economics, Taylor & Francis Journals, vol. 28(6), pages 742-766, September.
    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.
    7. 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.
    8. 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.
    9. 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.
    10. 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.
    11. Gitana Dudzevičiūtė, 2013. "Lithuanian manufacturing trends in the context of developed and developing countries," Post-Print hal-01694317, HAL.
    12. Nicholas Apergis & Vasilios Monastiriotis, 2013. "Price Concentration: New Evidence from Greek Industries and the Cournot Model," Economic Papers, The Economic Society of Australia, vol. 32(2), pages 265-271, June.
    13. Anthony N. Rezitis & Maria A. Kalantzi, 2016. "Investigating Technical Efficiency and Its Determinants by Data Envelopment Analysis: An Application in the Greek Food and Beverages Manufacturing Industry," Agribusiness, John Wiley & Sons, Ltd., vol. 32(2), pages 254-271, April.

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    More about this item

    Keywords

    Hall-Roeger; Manufacturing industry; Panel data; Markup; Bootstrap; D43; L60; L00;
    All these keywords.

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L00 - Industrial Organization - - General - - - General

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