The Review of Economics and Statistics Vol. 61 No. 1 1979
Excess Capacity and Market Structure: Another Look at the Evidence
Abstract
on CRMID continues to be insignificant. The growth variable is also robust, retaining its value and significance. The conclusions are that highly concentrated industries adjust faster than either competitive or partially oligopolistic industries, while the partially oligopolistic industries adjust significantly faster than the competitive industries. When growth is introduced into the equation, the highly concentrated industries retain their significantly faster adjustment speed, but there is no significant difference between the competitive and partially oligopolistic industries. This implies that there is a relationship (in the data-not necessarily causal) between partial oligopolies and growth, but not between highly concentrated industries and growth.
- DOI
- 10.2307/1924849
- Volume
- 61
- Issue
- 1
- Pages
- 159
- Sources
- openalex crossref