Alternative Theories of Competition: evidence from Greek manufacturing
The objective of this paper is to evaluate empirically the relevance of the neoclassical, post-Keynesian, and classical theories of competition in the light of the available empirical evidence from Greek large-scale manufacturing industries. The econometric analysis shows that the classical and post-Keynesian models provide a fairly good account of profit differentials, whereas the neoclassical performed the worst of the three. Between the classical and post-Keynesian models, we find that the classical is more consistent with the phenomena that it is designed to explain. Finally, a hybrid model combining variables from the three alternative theories displays the highest explanatory power.
Year of publication: |
1998
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Authors: | Tsaliki, Persefoni ; Tsoulfidis, Lefteris |
Published in: |
International Review of Applied Economics. - Taylor & Francis Journals, ISSN 0269-2171. - Vol. 12.1998, 2, p. 187-204
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Publisher: |
Taylor & Francis Journals |
Saved in:
Online Resource
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