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Market Structure, Entry, and Performance in Korea

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  • Market Structure, Entry, and Performance in Korea
  • Jeong, Kap-Young; Masson, Robert T.
  • The MIT Press


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Title Market Structure, Entry, and Performance in Korea
Similar Titles
Material Type Articles
Author(English)

Jeong, Kap-Young; Masson, Robert T.

Publisher

[Massachusetts]:The MIT Press

Date 1990-08
Pages 9
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Others
Industry and Technology < Manufacturing
Holding Cornell Universtiy Department of Economic

Abstract

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.