منابع مشابه
Market Integration and Contagion
Contagion is usually defined as correlation between markets in excess of what would be implied by economic fundamentals; however, there is considerable disagreement regarding the definitions of the fundamentals, how the fundamentals might differ across countries, and the mechanisms that link the fundamentals to asset returns. Our research takes, as a starting point, a two-factor model with time...
متن کاملCapital Market Integration and Wages
For three years after the typical emerging economy opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of three. No such increase occurs in a control group of countries that do not liberalize. The temporary increase in the growth rate of the real wage drives up the level of average annual compens...
متن کاملVertical Integration and Market Foreclosure
Few people would disagree with the proposition that horizontal mergers have the potential to restrict output and raise consumer prices. In contrast, there is much less agreement about the anti-competitive effects of vertical mergers. The purpose of this paper is to develop a theoretical model showing how vertical integration changes the nature of competition in upstream and downstream markets a...
متن کاملIndustry Risk and Market Integration
Traditionally, integration has been studied at the country level. With increasing economic integration, industrial reorganization, and blurring of national boundaries (e.g., EU), it is important to investigate global integration at the industry level. We argue that country-level integration (segmentation) does not preclude industry-level segmentation (integration). Indeed, our results suggest t...
متن کاملCross-Market Integration and Sabotage
Recent industry developments motivate the study of cross-market firm integrations, which often raises controversies and regulatory concerns due to the potential negative effects through the integrated firms’ sabotage activities. In this paper, we analyze integrations of firms in two interrelated markets that produce complementary products. Two firms compete with differentiated products in each ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Competition Law & Economics
سال: 2016
ISSN: 1744-6414,1744-6422
DOI: 10.1093/joclec/nhw027