1st Edition
Internationalization, Market Power and Consumer Welfare
In the years prior to this book being originally published in 1992, the study of industrial economics had been dominated by the USA. While there was a fund of theoretical and empirical knowledge relating to the US experience, this is not always relevant in the context of Europe. With its considerable national market the USA developed competition policies that differ from those in the smaller economies of European countries.
This collection of essays looks at the market behaviour of an economy more open to international competition. The industrial organization of Sweden provides the ideal representation of smaller economies that can be applied to the other economies of western Europe.
The contributors apply different analytical approaches to assess direct and indirect forms of market power. Some papers draw on econometric cross-sectional models exploring the scope of market power and the role of international competition. Others look at specific markets investigating the formation of market power – its costs to consumers and the role of lobbying groups and the political sphere: case studies include the domestic car, white good, pharmaceutical goods, food, textile and air transport markets. The book also contains papers that examine the role of competition policy towards restrictive practices and mergers in curbing market power and promoting economic efficiency.
This book will be of interest to those studying industrial economics and international business and marketing.
Part 1: Introduction 1. Market Power and Consumer Welfare in Open Economies Yves Bourdet Part 2: Concentration, Efficiency and Market Power 2. Concentration, Prices and Profitability in the Swedish Manufacturing Industry Nils-Olov Stålhammar Part 3: International Integration and Multinational Competition 4. The White Goods Industry Örjan Sölvell 5. The Pharmaceutical Market Bengt Jönsson 6. Competition and Prices in the Passenger Car Market Yves Bourdet Part 4: Producer Behaviour, Public Policy and the Market 7. Agricultural Policy: Old Wine in New Bottles Ewa Rabinowicz 8. The Textile and Clothing Market: Towards a Liberalization? Eva Lindström 9. Economic Regulation of Domestic Air Transport in Sweden Siri Pettersen Strandenes Part 5: Competition Policy, Market Power and Economic Efficiency 10. Policy Toward Market Power and Restrictive Practices Yves Bourdet 11. Competition Policy and Economic Efficiency: Efficiency Trade-Offs in Industrial Policy Lennart Hjalmarsson.
Biography
Yves Bourdet
Original Review of The Economic Theory of Fiscal Policy:
‘Professor Peacock and Dr. Shaw not only have succeeded in setting out the basic elements of the theory of fiscal policy with great clarity but have also incorporated a number of the important post-Keynesian developments in macroeconomic theory.’ A. B. Atkinson, The Economic Journal, Vol 82, Issue 325 (1972).
