Classical Competition and Regulating Capital: Theory and Empirical Evidence

Lefteris Tsoulfidis () and Persefoni Tsaliki

Discussion Paper Series from Department of Economics, University of Macedonia

Abstract: In this article we discuss the salient features of the classical and neoclassical theories of competition and we test their fundamental propositions using data from Greek manufacturing industries. The cross section data of 3-digit (total 91) industries of the three (pooled together) census years show no evidence of a direct statistical relationship between the degree of concentration and profitability. The econometric analysis of time series data for 2-digit industries lends support to the hypothesis for the long-run tendential equalization of incremental rates of return to the economy’s average incremental rate of return.

Keywords: Competition; regulating capital; incremental rate of return; tendential equalization. (search for similar items in EconPapers)
JEL-codes: B14 C22 L10 (search for similar items in EconPapers)
Date: 2011-02, Revised 2011-02
New Economics Papers: this item is included in nep-hme
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Related works:
Working Paper: Classical competition and regulating capital: theory and empirical evidence (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:mcd:mcddps:2011_02

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