Market concentration and labour employment in Indian organized manufacturing, post-reforms

Ashish Kumar Sedai ()
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Ashish Kumar Sedai: University of Delhi

Journal of Social and Economic Development, 2017, vol. 19, issue 1, No 6, 94-110

Abstract: Abstract The post-reform ‘Free market enterprise’ systems and forms of governance adopted in Indian manufacturing have been widely debated and argued to be associated with a jobless manufacturing growth. The study uses market concentration and monopoly power indices, post-reforms, to determine the level of competition and labour exploitation. A panel data regression with employment as the dependent variable has found: Free market enterprise has a semi-definitive impact on the employment of labour. The variables: (1) market concentration leads to an increase in the level of employment and wages. However, (2) monopoly power leads to a decline in the level of employment and an indefinite effect on wage growth. This study is significant in understanding jobless growth and the idea of capital reorganization and labour substitution. The study could relate to formulation of the antitrust policies and restrictive trade practices of monopolies in coherence with labour welfare.

Keywords: Free markets; Market concentration; Monopoly power; Employment (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/s40847-017-0041-3

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