This paper applies a recursive model of structureentry-performance with structural feedbacks to 62 Korean manufacturing industries for 1976-81. The results strongly support the market power hypothesis. The results also indicate that, despite active government intervention, the invisible hand is working: structure is evolving as expected with high profits leading to entry and consequently lower profits. However,
there is little support for limit pricing hypotheses in this explosively growing economy.
- Market Structure, Entry, and Performance in Korea
- Jeong, Kap-Young; Masson, Robert T.
- The MIT Press
Market Structure, Entry, and Performance in Korea
[Massachusetts] : The MIT Press
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Others
Industry and Technology < Manufacturing
|Holding||Cornell Universtiy Department of Economic|