Classical competition and regulating capital: theory and empirical evidence

Lefteris Tsoulfidis () and Persefoni Tsaliki

MPRA Paper from University Library of Munich, Germany

Abstract: 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 profit to the economy’s average.

Keywords: Competition; regulating capital; incremental rate of profit; tendential equalization (search for similar items in EconPapers)
JEL-codes: B12 B14 C10 C22 L0 L00 L10 L12 O14 (search for similar items in EconPapers)
Date: 2011, Revised 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Working Paper: Classical Competition and Regulating Capital: Theory and Empirical Evidence (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:51334

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