TRADE OPENNESS, MARKET COMPETITION, AND INFLATION: SOME SECTORAL EVIDENCE FROM OECD COUNTRIES
ABSTRACT This study evaluates the role market competition plays in determining inflation based on sector‐level data from OECD countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity. Nonetheless, previous empirical studies often fail to ac...
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| Veröffentlicht in: | International journal of finance and economics 2012-10, Vol.17 (4), p.321-336 |
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| container_title | International journal of finance and economics |
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| creator | Binici, Mahir Cheung, Yin-Wong Lai, Kon S. |
| description | ABSTRACT
This study evaluates the role market competition plays in determining inflation based on sector‐level data from OECD countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity. Nonetheless, previous empirical studies often fail to account for productivity effects, and their results may overstate the role of market competition. This study shows that inflation decreases with greater market competitiveness even after controlling for productivity effects. Indeed, when market competition and productivity effects are both accounted for, trade openness becomes insignificant in explaining inflation. The results support that changes in market competitiveness and productivity are the main channels through which trade openness affects inflation. Copyright © 2012 John Wiley & Sons, Ltd. |
| doi_str_mv | 10.1002/ijfe.1451 |
| format | Article |
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This study evaluates the role market competition plays in determining inflation based on sector‐level data from OECD countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity. Nonetheless, previous empirical studies often fail to account for productivity effects, and their results may overstate the role of market competition. This study shows that inflation decreases with greater market competitiveness even after controlling for productivity effects. Indeed, when market competition and productivity effects are both accounted for, trade openness becomes insignificant in explaining inflation. The results support that changes in market competitiveness and productivity are the main channels through which trade openness affects inflation. Copyright © 2012 John Wiley & Sons, Ltd.</description><identifier>ISSN: 1076-9307</identifier><identifier>EISSN: 1099-1158</identifier><identifier>DOI: 10.1002/ijfe.1451</identifier><language>eng</language><publisher>Chichester, UK: John Wiley & Sons, Ltd</publisher><subject>Competition ; dynamic panel ; Economic theory ; Industrialized nations ; Inflation ; market structure ; Productivity ; static panel ; Studies ; Trade liberalization ; trade openness</subject><ispartof>International journal of finance and economics, 2012-10, Vol.17 (4), p.321-336</ispartof><rights>Copyright © 2012 John Wiley & Sons, Ltd.</rights><rights>Copyright Wiley Periodicals Inc. Oct 2012</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c4341-cf9e83974ac66f960a30466d6d44b46c8d4d53f0fe05059b7ffd11e65b9d37843</citedby><cites>FETCH-LOGICAL-c4341-cf9e83974ac66f960a30466d6d44b46c8d4d53f0fe05059b7ffd11e65b9d37843</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://onlinelibrary.wiley.com/doi/pdf/10.1002%2Fijfe.1451$$EPDF$$P50$$Gwiley$$H</linktopdf><linktohtml>$$Uhttps://onlinelibrary.wiley.com/doi/full/10.1002%2Fijfe.1451$$EHTML$$P50$$Gwiley$$H</linktohtml><link.rule.ids>314,780,784,1417,27924,27925,45574,45575</link.rule.ids></links><search><creatorcontrib>Binici, Mahir</creatorcontrib><creatorcontrib>Cheung, Yin-Wong</creatorcontrib><creatorcontrib>Lai, Kon S.</creatorcontrib><title>TRADE OPENNESS, MARKET COMPETITION, AND INFLATION: SOME SECTORAL EVIDENCE FROM OECD COUNTRIES</title><title>International journal of finance and economics</title><addtitle>Int. J. Fin. Econ</addtitle><description>ABSTRACT
This study evaluates the role market competition plays in determining inflation based on sector‐level data from OECD countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity. Nonetheless, previous empirical studies often fail to account for productivity effects, and their results may overstate the role of market competition. This study shows that inflation decreases with greater market competitiveness even after controlling for productivity effects. Indeed, when market competition and productivity effects are both accounted for, trade openness becomes insignificant in explaining inflation. The results support that changes in market competitiveness and productivity are the main channels through which trade openness affects inflation. Copyright © 2012 John Wiley & Sons, Ltd.</description><subject>Competition</subject><subject>dynamic panel</subject><subject>Economic theory</subject><subject>Industrialized nations</subject><subject>Inflation</subject><subject>market structure</subject><subject>Productivity</subject><subject>static panel</subject><subject>Studies</subject><subject>Trade liberalization</subject><subject>trade openness</subject><issn>1076-9307</issn><issn>1099-1158</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2012</creationdate><recordtype>article</recordtype><recordid>eNp1kNFKwzAUhosoOKcXvkHAK2HdkiVNGu9Km83q2s62UxAkdG0CndPNdkP39rZ0eOfV-Q983znwG8Y1gkME4XhUrrQaImKhE6OHIOcmQpZ92mZGTY4hOzcu6noFIaQWgz3jLY0dT4BoLsJQJMkABE78KFLgRsFcpH7qR-EAOKEH_HAyc9r1DiRRIEAi3DSKnRkQz74nQleASRwFIBKu18iLMI19kVwaZzpb1-rqOPvGYiJS996cRVPfdWZmTjBBZq65sjFnJMsp1ZzCDENCaUELQpaE5nZBCgtrqBW0oMWXTOsCIUWtJS8wswnuGzfd3W21-dqreidXm3312byUCNoIUUy53VC3HZVXm7qulJbbqvzIqkMDybY92bYn2_YadtSx3-VaHf4Hpf8wEUfD7Iyy3qmfPyOr3iVlmFnyJZzKJ-ayVzQdSw__AoOpdug</recordid><startdate>201210</startdate><enddate>201210</enddate><creator>Binici, Mahir</creator><creator>Cheung, Yin-Wong</creator><creator>Lai, Kon S.</creator><general>John Wiley & Sons, Ltd</general><general>Wiley Periodicals Inc</general><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope></search><sort><creationdate>201210</creationdate><title>TRADE OPENNESS, MARKET COMPETITION, AND INFLATION: SOME SECTORAL EVIDENCE FROM OECD COUNTRIES</title><author>Binici, Mahir ; Cheung, Yin-Wong ; Lai, Kon S.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c4341-cf9e83974ac66f960a30466d6d44b46c8d4d53f0fe05059b7ffd11e65b9d37843</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2012</creationdate><topic>Competition</topic><topic>dynamic panel</topic><topic>Economic theory</topic><topic>Industrialized nations</topic><topic>Inflation</topic><topic>market structure</topic><topic>Productivity</topic><topic>static panel</topic><topic>Studies</topic><topic>Trade liberalization</topic><topic>trade openness</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Binici, Mahir</creatorcontrib><creatorcontrib>Cheung, Yin-Wong</creatorcontrib><creatorcontrib>Lai, Kon S.</creatorcontrib><collection>Istex</collection><collection>CrossRef</collection><jtitle>International journal of finance and economics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Binici, Mahir</au><au>Cheung, Yin-Wong</au><au>Lai, Kon S.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>TRADE OPENNESS, MARKET COMPETITION, AND INFLATION: SOME SECTORAL EVIDENCE FROM OECD COUNTRIES</atitle><jtitle>International journal of finance and economics</jtitle><addtitle>Int. J. Fin. Econ</addtitle><date>2012-10</date><risdate>2012</risdate><volume>17</volume><issue>4</issue><spage>321</spage><epage>336</epage><pages>321-336</pages><issn>1076-9307</issn><eissn>1099-1158</eissn><abstract>ABSTRACT
This study evaluates the role market competition plays in determining inflation based on sector‐level data from OECD countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity. Nonetheless, previous empirical studies often fail to account for productivity effects, and their results may overstate the role of market competition. This study shows that inflation decreases with greater market competitiveness even after controlling for productivity effects. Indeed, when market competition and productivity effects are both accounted for, trade openness becomes insignificant in explaining inflation. The results support that changes in market competitiveness and productivity are the main channels through which trade openness affects inflation. Copyright © 2012 John Wiley & Sons, Ltd.</abstract><cop>Chichester, UK</cop><pub>John Wiley & Sons, Ltd</pub><doi>10.1002/ijfe.1451</doi><tpages>16</tpages><oa>free_for_read</oa></addata></record> |
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| source | Wiley Journals; Business Source Complete |
| subjects | Competition dynamic panel Economic theory Industrialized nations Inflation market structure Productivity static panel Studies Trade liberalization trade openness |
| title | TRADE OPENNESS, MARKET COMPETITION, AND INFLATION: SOME SECTORAL EVIDENCE FROM OECD COUNTRIES |
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