Globalisation and market structure

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Title: Globalisation and market structure
Authors: Neary, J. Peter
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Date: 18-Aug-2002
Abstract: This paper reviews some puzzling economic aspects of globalisation and argues that they cannot be satisfactorily addressed in perfectly or monopolistically competitive models. Drawing on recent work, a model of oligopoly in general equilibrium is sketched. The model ensures theoretical consistency by assuming that firms are large in their own markets but small in the economy as a whole, and ensures tractability by assuming quadratic preferences defined over a continuum of goods. Applications considered include the effects of trade liberalisation on industrial structure, on cross-border merger waves, and on the distribution of income between skilled and unskilled workers.
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
University College Dublin. Institute for the Study of Social Change (Geary Institute)
Series/Report no.: UCD Centre for Economic Research Working Paper Series; WP02/20; ISSC Discussion Paper Series; WP 2002/05
Keywords: Cross-border mergersGOLE (General Oligopolistic Equilibrium)Market integrationTrade and wagesTrade liberalisation
Subject LCSH: Globalization
Equilibrium (Economics)
Competition, Imperfect
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Language: en
Status of Item: Not peer reviewed
Appears in Collections:Geary Institute Working Papers
Economics Working Papers & Policy Papers

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