Price Formation and Import Penetration in U.K. Manufacturing Industry

Andrew Murfin and Keith Cowling
Additional contact information
Andrew Murfin: Birbeck College
Keith Cowling: University of Warwick

No 1981036, Discussion Papers (REL - Recherches Economiques de Louvain) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: We proceed by discussing the theoretical and empirical literature. It is suggested that the existing empirical results may have several possible alternatives explanation and that U.K manufacturing industry may not be subject to significant foreign price competition. It is argued that the conventional hypothesis that imports are independent of the domestic oligopoly structure is not altogether convincing. We pursue a specification which is an adaptation of that conventional view of import price competition. The results obtained in the estimation of this model, while not conclusive, do give grounds for doubting the conventional hypothesis.

Pages: 27
Date: 1981-09-01
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Citations: View citations in EconPapers (3)

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