Marże monopolistyczne i przychody skali w gospodarce polskiej

Gradzewicz, Michal and Hagemejer, Jan (2007): Marże monopolistyczne i przychody skali w gospodarce polskiej. Published in: Ekonomista , Vol. 4, (2007): pp. 515-540.

Abstract

This article estimates returns to scale and monopolistic markups on a large sample of Polish firms in the manufacturing and services sectors during 1996-2004. Methodology based on instrumental variables allows joint estimation of both, scale elasticities as well as markups, while the unobserved changes in firm-specific productivities are under control. Results show significant and positive markups in the aggregate manufacturing sector and in several narrowly defined industries. Returns to scale vary, but they are more pronounced in manufacturing, than in service sectors. Markups in service sector are lower than expected. Sensitivity analysis suggests sufficient overall stability of results.

• Item Type: MPRA Paper
• English Title: Monopolistic markups and returns to scale in the Polish economy
• Language: Polish
• Keywords: Poland, returns to scale, monopolistic markups, sectoral returns to scale and markups
• Subjects: L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L10 - General; L - Industrial Organization > L6 - Industry Studies: Manufacturing

References

Baily, M., Hulten, C., Campbell, D., (1992), Productivity dynamics in manufacturing plants, Brookings Papers on Economic Activity, Microeconomics, s.187-249

Jorgenson, D. W., Griliches, Z. (1967), The explanation of productivity change, Review of Economic Studies, Vol. 34, pages 249-83; przedruk w D W Jorgenson, Productivity: volume 1: postwar U.S. economic growth, Cambridge, MA: The MIT Press

Oulton, N., Srinivasan, S., (2003), Capital stocks, capital services and depreciation: an integrated framework, Bank of England Working Paper, No. 192

Klette, T . J., (1999), Market power, scale economics and productivity: estimates from a panel of establishments data, Journal of Industrial Economics, Vol. 47, No. 4 Hyde, C. E., Perloff, J. M., (1995), Can market power be estimated?, Review of Industrial Organization, No. 10 Diewert, W. E., (1976), Exact and superlative index numbers, Journal of Econometrics 4

Griliches, Z., Mairesse, J., (1998), Production functions: The Search for Identification, w: Steinar Strom (ed.): The Ragnar Frisch Centennial Symposium, Cambridge University Press (Cambridge, UK)

Dobrinsky, R., Körosi, G., Markov, N., Halpern, L., (2004), Firms’ Price Markups and Returns to Scale in Imperfect Markets: Bulgaria and Hungary, William Davidson Institute Working Paper Number 710

Konings, J., Vandenbussche, H. (2005), Antidumping protection and markups of domestic firms, Journal of International Economic, vol 65, 151-165

Konigns, J., Van Cayselle, P., Warzynski, F., (2003) The effects of privatization and international competitive pressure on Firms’ Price-Cost Margins: Micro Evidence from Emerging Economies, William Davidson Institute Working Paper Number 603

Arellano, M., Bond, S., (1991), Some tests of specification for panel data” Monte Carlo evidence and an application to employment equations, The Review of Economic Studies, no 58 Arellano, M., Bover, O., (1995), Another look at the instrumental variable estimation of error-components models, Journal of Econometrics, no 68

Hall R.E., (1988), The relation between price and marginal cost in U.S. industry, Journal of Political Economy, vol. 96, no. 5

Roeger, W., (1995), Can Imperfect Competition Explain the Difference between Primal and Dual Productivity Measures? Estimates for U.S. Manufacturing, Journal of Political Economy, Vol. 103, No. 2., s. 316-330

Martins J. O., Scarpetta, S., (1999), The Levels and Cyclical Behaviour of Mark-ups Across Countries and Market Structures, OECD Economic Department Working Papers, No. 213.