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Sustainable development vs Effective competition: Empirical analysis of industry-specific mechanical engineering markets

Author

Listed:
  • Natalya Yu. Yaroshevich

    (Ural State University of Economics, Ekaterinburg, Russia)

  • Vasily V. Migunov

    (Ural State University of Economics, Ekaterinburg, Russia)

Abstract

In the context of economic sanctions, there emerges an acute problem of finding optimal industry-specific policy mechanisms. Implementation of certain managerial decisions at the industry-specific level is largely dependent on the market development specificities. The study theoretically substantiates and empirically tests the hypothesis that sustainable development of industry-specific markets implies effective competition present in them. The theoretical framework includes the concepts of sustainable development and competition. The research methods are dynamic, statistical and industry analyses. We developed a set of methodological tools that provides for a dynamic complementary assessment of the industry-specific market parameters, namely the sustainabile development and the presence of effective competition. The first parameter was examined using the industry average annual growth rate, the second one – by analyzing the indicators of absolute leadership in costs, turbulence in market shares, and the Bain index. The empirical data of the work was retrieved from 10 industry-specific mechanical engineering markets in the Russian Federation for 2000–2020. The findings indicate a significant differentiation in the field in question: the hypothesis of the study was confirmed only for three industries of mechanical engineering; the rest of the markets are characterized by both unstable growth dynamics and a low level of effective competition. The proposed methodological approach is universal and can be used to analyze other industrial markets.

Suggested Citation

  • Natalya Yu. Yaroshevich & Vasily V. Migunov, 2023. "Sustainable development vs Effective competition: Empirical analysis of industry-specific mechanical engineering markets," Upravlenets, Ural State University of Economics, vol. 14(1), pages 47-59, March.
    • Handle: RePEc:url:upravl:v:14:y:2023:i:1:p:47-59
    DOI: 10.29141/2218-5003-2023-14-1-4
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    References listed on IDEAS

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    1. Schwartzman, David, 1973. "Competition and Efficiency: Comment," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 756-764, May-June.
    2. Hay, Donald, 1993. "The Assessment: Competition Policy," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 9(2), pages 1-26, Summer.
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    More about this item

    Keywords

    effective competition; sustainable development; industry-specific markets; industrial markets; mechanical engineering; cost leadership;
    All these keywords.

    JEL classification:

    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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