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

Natalya Yu. Yaroshevich and Vasily V. Migunov
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Natalya Yu. Yaroshevich: Ural State University of Economics, Ekaterinburg, Russia
Vasily V. Migunov: Ural State University of Economics, Ekaterinburg, Russia

Upravlenets, 2023, vol. 14, issue 1, 47-59

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.

Keywords: effective competition; sustainable development; industry-specific markets; industrial markets; mechanical engineering; cost leadership (search for similar items in EconPapers)
JEL-codes: H21 M21 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/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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