Besley, Timothy, Fontana, Nicola and Limodio, Nicola (2020) Antitrust policies and profitability in non-tradable sectors. American Economic Review. ISSN 0002-8282 (In Press)
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Text (Antitrust policies and profitability in non-tradable sectors)
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Abstract
Firms in tradable sectors are more likely to be subject to external competition to limit market power while non-tradable firms are more dependent on domestic policies and institutions. This paper combines an antitrust index available for multiple countries with firm-level data from Orbis covering more than 10 million firms from 90 countries, covering 20 sectors over 10 years and finds that profit margins of firms operating in non-tradable sectors are significantly lower in countries with stronger antitrust policies compared to firms operating in tradable sectors. The results are robust to a wide variety of empirical specifications.
Item Type: | Article |
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Official URL: | https://www.aeaweb.org/journals/aer |
Additional Information: | © 2020 American Economic Association |
Divisions: | Economics School of Public Policy ?? SCPP ?? Geography & Environment |
Subjects: | H Social Sciences > HG Finance H Social Sciences > HB Economic Theory |
Date Deposited: | 04 Sep 2020 13:03 |
Last Modified: | 02 Feb 2021 00:10 |
URI: | http://eprints.lse.ac.uk/id/eprint/106493 |
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