Exports and liberalization: a simple industrial organization approach
Abstract
A few empirical studies that had examined export behavior of large and small scale firms in Indian industry for the pre-liberalization period observed that exports had been basically a residual activity to the large scale oligopolistic firms and large firms were less export orientated than small firms. (Patlibandis (1995) and (1988)). One of the explanations provided for this type of corporate behaviors was that the large oligopolistic firms were able to derive long-run domestic market power due to industrial policies like licensing, capital market imperfections and also import protection.
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