On the examination of non-linear relationship between market structure and performance in the US manufacturing industry
Michael Polemis () and
Thanasis Stengos ()
Economics Letters, 2018, vol. 164, issue C, 1-4
This paper attempts to investigate the causal link between market structure and industry performance using a micro panel data set of USA manufacturing industries over the period 1958–2007. We employ a novel panel GMM model strongly accounting for endogenous regressors and threshold variable. The empirical findings denote the existence of a non-monotonic relationship between market structure and total-factor productivity (TFP). Our findings call for future research on the impact of market structure on consumer welfare.
Keywords: Market structure; TFP; Threshold; Competition; Non-linear effects (search for similar items in EconPapers)
JEL-codes: C24 L1 L6 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:164:y:2018:i:c:p:1-4
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