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Retail market structure and consumer prices : Evidence from Korea

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Frame of Image le retailers has raised concerns and
Retail Market Structure and Consumer Prices : Evidence from Korea
complaints from suppliers and small retailers. In particular, suppliers in the upstream have raised concerns about abusive purchasing practices by large supermarkets. And there has been emerging social initiative to protecting small retailer and traditional markets. As a policy response, the Korean government has imposed regulatory barriers on the large retailers. While much of policy attention has been on both suppliers and small retailers, there have been only limited discussions about the impact of large-scale retailers on consumers. In particular, the retailers’ ability to extract more favorable terms and conditions from suppliers may affect retail prices and consumer welfare in various ways. However, this issue has not received much attention up to now. In fact, mere regulations imposed on the large retailers do not necessarily lead to improvement of social welfare. As we will discuss in this article, the buying power of large retailers may increase c o n s u m e r benefits, but it depends on retail market structure in the downstream. Unfortunately, the theoretical discussions about buying power produce mixed answers regarding the impact of buying power on consumers. It leaves it to empirical tests to evaluate the impact of buying power on
Mar. / Apr.┃2014┃Vol 19┃No 2
13
consumers This article is organized as follows. First, in section 2, we provide an overview of the K


Full Text
Title Retail market structure and consumer prices
Similar Titles
Sub Title

Evidence from Korea

Material Type Articles
Author(English)

Shin, Jongwon

Publisher

[Seoul]:Korea Institute for Industrial Economics and Trade

Date 2014
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 19(no. 2)
Pages 12
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Macroeconomics
Industry and Technology < Others
Holding Korea Institute for Industrial Economics and Trade