 Time-varying international market power for the Chinese iron ore marketsXuehong Zhu, Weihang Zheng, Hongwei Zhang and Yaoqi Guo Resources Policy, 2019, vol. 64, issue C Abstract: This study analyses the dynamics of iron ore's international market power on exports to China by Australia, Brazil, India and South Africa. It uses the residual demand elasticity (RDE) model and rolling window regression model and applies the monthly data for the international iron ore market over the period from January 2006 to December 2016. The results indicate that (1) Australia and Brazil exercise market power in the Chinese iron ore market, but India and South Africa have no market power in the iron ore market; (2) market power has a time-varying nature, particularly in Australia and Brazil; and (3) changes in the pricing regime in the international iron ore market have a profound impact on market power. Furthermore, to maintain the stability of the Chinese iron ore market, exporters are suggested to enhance their competitiveness and gain greater market power on the basis of maintaining market share, and China should optimize its trade structure. Keywords: Market power; RDE model; Rolling window regression; Time-varying nature; Pricing regime (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:64:y:2019:i:c:s0301420718306858 DOI: 10.1016/j.resourpol.2019.101502 Access Statistics for this article Resources Policy is currently edited by R. G. Eggert More articles in Resources Policy from Elsevier |
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