The impact of the liberalization program on the price-cost margin and investment of Turkey's manufacturing sector after 1980

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dc.citation.epage103en_US
dc.citation.issueNumber5en_US
dc.citation.spage72en_US
dc.citation.volumeNumber38en_US
dc.contributor.authorÖzcan, K. M.en_US
dc.contributor.authorVoyvoda, E.en_US
dc.contributor.authorYeldan, E.en_US
dc.date.accessioned2016-02-08T10:31:39Z
dc.date.available2016-02-08T10:31:39Z
dc.date.issued2002en_US
dc.departmentDepartment of Economicsen_US
dc.departmentDepartment of International Relationsen_US
dc.description.abstractIn this paper, we investigate the structural consequences of the post-1980 outward-orientation on the market concentration and accumulation patterns in the Turkish manufacturing industries. Using various panel data procedures over twenty-nine subsectors of Turkish manufacturing for the 1980-1996 period, we focus on three sets of issues: (1) the effect of openness on the extent of market concentration as measured in CR4 ratios; (2) the behavior of gross profit margins (markups) in relation to openness, concentration ratios, and real wage costs; and (3) the behavior of sectoral real investments (by destination) in relation to the profit margins, real wage costs, and the openness indicator. Our results suggest very little structural change in the sectoral composition and nature of market concentration and behavior of profit margins under the post-1980 structural adjustment reforms and outward-orientation. We find that, contrary to expectations, "openness" had very little impact, if any, on profit margins (markups), and, within manufacturing, the trade-adjusting sectors reveal a positive relationship between the profit margins and openness. Profit margins are found to be positively and significantly related to concen- © 2002 M.E. Sharpe, Inc. All rights reserved.en_US
dc.identifier.eissn1558-0938
dc.identifier.issn1540-496X
dc.identifier.urihttp://hdl.handle.net/11693/24599
dc.language.isoEnglishen_US
dc.publisherRoutledgeen_US
dc.source.titleEmerging Markets Finance and Tradeen_US
dc.subjectMarket concentrationen_US
dc.subjectMarkupen_US
dc.subjectOpennessen_US
dc.subjectTurkish manufacturingen_US
dc.titleThe impact of the liberalization program on the price-cost margin and investment of Turkey's manufacturing sector after 1980en_US
dc.typeArticleen_US
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