E-ISSN 2791-9439 | ISSN 1300-1868
 

Original Article 


Market Power Indices of the Industries of Chemicals and Petro-Chemicals in Turkey

Ekrem Kalkan.

Abstract
The Lerner index is a measure of the market power, which is the ability of pricing above marginal cost. This measure serves as a theoretical and empirical tool for modeling market structure. In this paper, the Lerner indices are estimated for manufacturing industries of chemicals, industrial chemicals, petroleum refineries, miscellaneous petroleum and coal products, rubber and plastic products in Turkey. The econometric model which is used in this study requires data on capital stock. However, data on capital stock is not available in statistical databases. Therefore, in this paper the capital stock is calculated using data on investment and depreciation rate. As an alternative to this, the power capacity is used as a proxy for capital stock. Results show that the second approach yields lower Lerner index. Another finding is that the type of ownership (private or public) does not make significant difference in Lerner index estimates. Finally, some industries using a large share of capital in their production process have higher market power.

Key words: Market power, Lerner index, Price-cost margin, Petrochemicals, Solow residuals. JEL Classification: L10, L65, L71.



Türkiye Kimya ve Petro-kimya Sanayilerinde Pazar Gücü Endeksleri

Ozet
Pazar gücü kavramı firmaların marjinal maliyetlerinin üzerinde fiyatlama yapabilme kapasiteleri anlamına gelmektedir ve Lerner endeksi ile ölçülür. Bu endeks, piyasa yapısını analiz eden çalışmalarda bir teorik ve ampirik kavram olarak kullanılır. Bu makalede, Türkiye'nin kimyasal ürün imalatı, petrol rafinerisi, petrol ve kömür ürünleri imalatı, lastik ve plastik ürünler imalatı sanayilerinin Lerner endeksleri tahmin edilmektedir. Kullanılan ekonometrik model sermaye stoğu bilgisine ihtiyaç duymaktadır. Ancak sermaye stoğu verileri hakkında yayınlanan istatistikler bulunmadığı için bu makalede yatırım ve yıpranma verileri kullanılarak sermaye stoğu tahmini yapılmıştır. Buna alternatif olarak kurulu güç verileri sermaye stoğu yerine kullanılmıştır. Bu veriler ile yapılan Lerner endeksi tahminleri bu makalede türetilen sermaye stoğu verileri ile yapılan tahminlerden daha düşük çıkmaktadır. Çalışmanın bir diğer sonucu ise pazar gücünün, mülkiyetin kamuda veya özel sektörde olması bakımından önemli derecede farklılık göstermemesidir. Son olarak, görece sermaye yoğunluğu yüksek sektörlerde pazar gücü daha yüksek çıkmaktadır.

Anahtar Kelimeler: Pazar gücü, Lerner endeksi, Fiyat-maliyet marjı, Petrokimya, Solow artığı. JEL Sınıflaması: L10, L65, L71.


 
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How to Cite this Article
Pubmed Style

Ekrem Kalkan. Market Power Indices of the Industries of Chemicals and Petro-Chemicals in Turkey. Ekonomik Yaklasim. 2016; 27(98): 177-198. doi:10.5455/ey.35920


Web Style

Ekrem Kalkan. Market Power Indices of the Industries of Chemicals and Petro-Chemicals in Turkey. https://www.ekonomikyaklasim.org/?mno=177391 [Access: April 11, 2023]. doi:10.5455/ey.35920


AMA (American Medical Association) Style

Ekrem Kalkan. Market Power Indices of the Industries of Chemicals and Petro-Chemicals in Turkey. Ekonomik Yaklasim. 2016; 27(98): 177-198. doi:10.5455/ey.35920



Vancouver/ICMJE Style

Ekrem Kalkan. Market Power Indices of the Industries of Chemicals and Petro-Chemicals in Turkey. Ekonomik Yaklasim. (2016), [cited April 11, 2023]; 27(98): 177-198. doi:10.5455/ey.35920



Harvard Style

Ekrem Kalkan (2016) Market Power Indices of the Industries of Chemicals and Petro-Chemicals in Turkey. Ekonomik Yaklasim, 27 (98), 177-198. doi:10.5455/ey.35920



Turabian Style

Ekrem Kalkan. 2016. Market Power Indices of the Industries of Chemicals and Petro-Chemicals in Turkey. Ekonomik Yaklasim, 27 (98), 177-198. doi:10.5455/ey.35920



Chicago Style

Ekrem Kalkan. "Market Power Indices of the Industries of Chemicals and Petro-Chemicals in Turkey." Ekonomik Yaklasim 27 (2016), 177-198. doi:10.5455/ey.35920



MLA (The Modern Language Association) Style

Ekrem Kalkan. "Market Power Indices of the Industries of Chemicals and Petro-Chemicals in Turkey." Ekonomik Yaklasim 27.98 (2016), 177-198. Print. doi:10.5455/ey.35920



APA (American Psychological Association) Style

Ekrem Kalkan (2016) Market Power Indices of the Industries of Chemicals and Petro-Chemicals in Turkey. Ekonomik Yaklasim, 27 (98), 177-198. doi:10.5455/ey.35920





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