جستجوی مقالات مرتبط با کلیدواژه « Competition » در نشریات گروه « اقتصاد »

Investigating the behavior of the main gas producers due to the increasing importance of this fossil fuel is one of the most significant issues of energy importing and exporting countries. The emergence of the Gas Exporting Countries Forum as the main player in the global gas market gives importance to the analysis of changes in the members’ behavior of this forum including Russia due to the extra capacity in production. In this article, the behavior of Russia in the Gas Exporting Countries  Forum is analyzed by using Markov Switching model and monthly data from 2008 to 2022.  The results showed that the pattern of Russia's behavior in the forum does not fluctuate between competitive and collusion regimes over time. so that Russia's behavior in the first regime has been non-competitive and based on the pattern of "partial market sharing" and the Second regime it's behavior  has been non-competitive  based on the pattern of " Market Sharing and Price Making ".   And Russia's behavior in both regimes has been non-competitive. On tne other hand the results showed that Russia's average stay length in the first regime is 18/19 months and in the second one is 27/15 months.

Contrary to both the banks’ outstanding positions in financing and availability of unhealthy competition environment in the country banking industry in the recent years, little or no research was conducted around effective competition. The core objective of the current research is to design the competition model in banking industry with the means of DEMATEL technique. The data collection was organized through document-based analysis and semi-structured interviews with financial-banking elites. Sampling was in judgmental and snowball version. In order to analyze the data, coding was carried out by the thematic analysis and in order to approve of and screen the data, Fuzzy two stages-approach was employed and in order to assess the cause-and-effect relation among model dimensions, DEMATEL approach was applied. The result depicts economic, political, environmental and social factors as of causes, influence structural, legal, managemental, financial features. Furthermore, environmental factors were the most influential parameters and structural factors were on easy verge of impact. Additionally, legal and environmental components were of higher significance due to the broad interaction with the alternative variables. Additionally, in accordance with the result attained, legal factors were considered as the principal Achille Hills in having effective competition and environmental factors could be considered as the solutions for the legal factors.

According to the models of growth, renewable and non-renewable energy  affect economic growth, but the consumption of renewable energy due to less pollution, contributes to sustainable growth. So, countries strive to create the conditions for the use of renewable energy, such as electricity. By balancing competition in market such as the electricity market, on the micro level surplus of consumer and producer welfare is maximized without government intervention, and the incentive for the private sector to enter the market increases. On the macro level, due to lower prices and increased production, electricity consumption as renewable energy increases and reduces environmental degradation and increases sustainable growth. Over the past decades, in the electricity industry, natural monopoly conditions have been established in the sectors of production, transmission and distribution, and the surplus of consumer and producer welfare has not been maximized, so government intervention was justified. In recent years, due to technological advances and the elimination of natural monopolies, the incentive for the private sector to enter the electricity sector has been strengthened. The purpose of this article is to measure the degree of competition in 9 electricity companies in Iran during the period 2011-2019.

In order to measure the degree of competition in Iran's electricity industry, two structural approaches, i.e., Entropy coefficient and non-structural Panzar-Rosse were used. The entropy measure is used as an alternative to variance, in fact entropy is the inverse measure of concentration, when entropy increases, concentration decreases:E=i=1nSi.log1Si    ,0≤E≤log⁡(n) (1) Si  is the market share and the value of this index is equal to zero for the monopoly market and increases nonlinearly as the market becomes more competitive.Measurement of degree of competition by Panzar-Ross method, using the GMM method is as fallows:LnTRit=α0+α1LnQit+βLLnWLit+βKLnWKit+βELnWEit    (2)  WLit  is the labor input price, WKit  is the capital input price, WEit  is the energy input price of the power generation company i in the time period t. TRit  is total revenue, Qit  is production of the i-th power generation company at time t. In the dynamic specification, the Panzar-Rosse criterion for evaluating the market structure is defined as follows:PRH=i=13βi1-α1 (3) If i=13βi=1 , the market is competitive and a decrease (increase) in the price of inputs causes the same decrease (increase) in marginal cost and marginal revenue. If 0<i=13βi<1 , the market has monopolistic competition and is between competition and monopoly.

The calculation of entropy coefficient, which is one of the structural methods in measuring competitiveness, obtained a number equal to 0.215 for the Iranian electricity industry during 2011-2019. Considering that the mentioned number is between zero and one, it shows that the concentration in Iran's electricity industry has decreased during the period under review and this industry has been placed in a state between competitive and monopoly. In other words, the conditions of the electricity industry have moved out of the traditional state and full monopoly, although it still needs to establish arrangements to become more competitive and close to full competition. On the other hand, Panzar-Rosse non-structural method was also estimated and its index was calculated, which obtained a value of 0.253. This amount of Panzar-Rosse non-structural index also confirms the results of the non-structural approach in Iran's electricity industry. Due to the fact that the results of both structural and non-structural approaches in calculating the level of competitiveness in Iran's electricity industry confirm each other, more confidence is created regarding the obtained result.

Considering the important and effective role of electricity in other industries of the country, the existence of more competition that leads to a decrease in the price and increase in the production of electricity, from a micro point of view, it has led to an increase in consumer and producer surplus, and from a macro point of view, it has also led to a reduction in environmental pollution. Reducing the exploitation of non-renewable energies and as a result of intergenerational justice and ultimately the realization of sustainable growth and development. Although the results of the calculation of competitiveness indicators indicate that the electricity industry is moving away from the monopoly state and moving towards the competitive state, more efforts should be made in order to increase the degree of competition and achieve complete competition in the country. In this way, the country's economic managers and policy makers should increase the number of power plants in Iran's electricity network while removing the existing legal obstacles on the path of restructuring from monopoly to full competition in the country's electricity industry in order to reduce the level of concentration and monopoly in Iran's electricity market. On the other hand, creating a suitable environment for the correct and healthy competition of electricity companies, improving the productivity of production inputs and using the optimal combination of inputs through research and development, as well as short-term and long-term planning to improve the level of production and improve the cost structure, and encouraging and supporting elites and inventors in line with the development of new electricity production plans and technologies such as solar electricity technology can help to make the structure of the electricity industry more competitive.

Economic experts always refer to competition as a solution for economic growth and optimal use of economic resources.Over the past two decades, significant policy changes have taken place in the banking system, especially in emerging market economies, which have affected competition.The main purpose of this study is to evaluate the market monopoly power of banks during the years 2001 to 2020 based on the approach of conjectural changes.To measure monopoly power, the generalized model of Azam and Lopez (2002) was used and the equations of supply and demand of loans were tested using panel data using a two-stage least squares method with fixed effects.In order to estimate the selected model, macroeconomic variables and balance sheet data of  33 banks from the country's banking network have been used during the years 2001 to 2020. The obtained results indicate that during the mentioned period, the elasticity of conjectural changes is equal to- 0/976 and the approach of the mentioned number to -1 indicates the competitiveness of the banking industry. On the other hand, the market monopoly power index was -0/0386 and the market monopoly power in the country's banking system and the behavior based on cooperation between banks has also decreased.On the other hand, the findings of the study confirm that the price elasticity of demand for facilities in the period was equal to -0/4 and the imposition of banking sanctions by inefficient alternative markets, has made it more and more, which indicates a more inelastic demand for bank facilities that increase The market power of the banking industry.

This study aimed to examine degree of competition, and how horizontal integration decision affects market structure in Iran’s banking industry. The horizontal integration impact is measured using H-statistic proposed by Panzar and Rosse (1987) based on historical data over the period 2010-2018. We calculate H-statistic in different scenarios including bankruptcy, market power of deposit market, credit risk and operational risk and the estimated H-statistics for these scenarios are -1.31, -1.48, -1.88 and -1.15 respectively. Also, regarding the market situation before integration decisions, the calculated H-statistic is -1.05 leading us to evaluate competitive effects of banking integration scenarios. The results show that operational risk scenario had the lowest negative effect on degree of competition while the highest negative effect was from credit risk scenario.

In this paper, using the Hall-Roger model, the market In this paper, using the Hall-Roger model, the market structure of the base metals industry has been studied. The main purpose of this study was to measure the profit-price margin. For this purpose, data of 4 active base metals industries with a four-digit ISIC code over the period 2004-2017 were used. The results showed that in all four industries the price was more than the marginal cost and the price-cost gap in the entire industry was estimated at about 0.39. Also, the precious base metals and other non-ferrous metals industries had the highest Lerner index (0.76) and high market power, and the non-ferrous metals casting industry had the lowest Lerner index (0.137) and markup (1.16). In addition, the results show that in half of the base metals industry, the concentration ratio of the top four firms was more than 40% and in the other half it was less than that.

The banking industry is one of the main sectors of the economy of any country, that its health is a necessary condition to play a positive role in the economic development of that country. The health of the banking system is assessed by the financial stability criterion, which is evaluated by various risk-taking indexes. On the other hand, the banks risk-taking is affected by various factors, the most important of which is banking competition. The purpose of this study is to investigate the effect of banking competition on the risk-taking of the Iranian banking industry during the period 2009-2019. For this purpose, banking competition has been studied in the form of two main structural approaches (using the Herfindahl-Hirschman concentration index) and non-structural (using the Panzar-Rosse statistic). Z and NPL indexes have also been used as a criterion for assessing the banks risk-taking. According to the results, the concentration index calculated based on the total assets, total lending facilities and total deposits of the 19 banks under review had an almost declining trend, which indicates that the Iranian banking industry is moving towards competitive conditions, while the estimated Panzar-Rosse statistic indicates the existence of a monopolistic competition in the Iranian banking industry. According to the results, the effect of the three Herfindahl-Hirschman concentration indexes on banks chr('39')risk-taking is not always significant, while there is a non-linear U-shaped relationship between the Panzar-Rosse statistic and the banks level of risk-taking. This means that as the banking system becomes more competitive to some extent, the level of banks risk-taking decreases and then begins to increase. Also, according to the results, the level of competition in most years has been at a higher level than the optimal level. Therefore, it is recommended that in order to reduce the banks level of risk-taking, banking policies should be designed in such a way as to reduce the level of competition to an optimal level.

Entering the global market for medical equipment requires that the export product be of appropriate quality and comply with international standards to be able to compete in the global market. The main purpose of this article is to evaluate the impact of entrepreneurial capabilities on the export of medical equipment from developed and developing countries. For this purpose, while using the data of the period 2014-2019, a panel data Model was used to evaluate the impact of various factors, including entrepreneurial abilities on the export of medical equipment. In this research, elements such as  opportunistic start-ups; Technology absorption; Human capital and competition were considered as indicators of entrepreneurial ability. The results showed that the above indicators have a positive effect on the export of medical equipment in both groups of selected developing and developed countries.Accordingly, exporting equipment products requires increasing the entrepreneurial capabilities of companies through various incentives.

In the present study, the market structure of Iran’s banking industry is evaluated by using two measure of concentration and competition during the period of 2008- 2017. For this purpose, the k firm Concentration Ratio, the Herfindahl- Hirschman, the Hannah- Kay, the Hall-Tideman, the Comprehensive Industrial Concentration, and the Entropy are used to measure concentration. In addition the Panzar-Rosse statistic  is used to evaluate competition in Iran's banking sector. The various concentration indexes calculated based on total assets, total loans and total deposits of the 19 under study banks had an almost declining trend, which indicate that Iran’s banking industry has been moving towards competitive conditions. It is while, the estimated Panzar- Rosse statistic, as a competition index, had a fluctuating trend during the under study period and indicates the existence of a monopoly competition in the Iran's banking industry. A positive and strong correlation between different concentration indexes, along with a negative and weak correlation between different concentration indexes and the Panzar-Rosse statistic, besides the shortcomings of the structural approach to measure competition, show that the use of a non-structural approach, such as the Panzar-Rosse is more suitable for evaluating the Iran's Banking Industry.

effective factors on market power in Iran’s banking system during 2001-2012. For this purpose, after the evaluation of cost efficiency and the degree of market power exercising in banking industry, effective factors on Concentration in Iran’s banking system were investigated. The results of the study show that the market power and the cost inefficiency in Iran’s banking system have been decreased. Also, the results shown that cost efficiency lead to higher concentration which is consistent with Demstez superior efficiency theory. In other hand, Barrier to Entry has positively effect on concentration level of Iran's banking Industry.  The results also Indicated that increasing the number of branches led to less concentration

The main purpose of this article was testing the relation between competition and innovation in Iran’s manufacturing industry. To meet this ends the data of 130 Iran’s 4-digit industries over the period of 1996-2013 were used. Also, this article sought to analyze this relationship by using a panel smooth transition approach. The results indicated that, clearly there was the nonlinear relationship among variables and by increasing concentration until threshold value 0.267 the research and development intensity increased but after this threshold value, its effect decreased. Moreover in the second model by increasing research and development intensity till the threshold value of 0.38 percentage the concentration increased and after that, this impact has been decreased. In addition, only in 6% of Iran's industries competition and innovation was high but, in most industries by increasing competition, innovation were declining. Overall, there was an asymmetric relationship between competition and innovation and in most industries the intensity of research and development expenditures were low. So, in Iran’s industries, the inverse U relation between innovation and competition confirmed.

An important factor affecting economic growth is the creation of an efficient financial system for financing high value-added activities. Accordingly, this study examined the relationship between cost efficiency and competition in Iran’s banking industry using data of 18 state-owned and private banks over the period of 2006-2015. To do so, we used trans-log cost function to measure the cost efficiency of banks and the adjusted Lerner index to estimate competition. The result of Tobit model estimation indicates that, an increase in competition, credit concentration, size of bank, and reducing economic growth could increase cost inefficiency; also the result of generalized method of moments (GMM) shows that an increase in efficiency will decrease competition. Therefore, the efficient-structure and information generation hypothesis can be accepted in Iran’s banking industry. Thus, it is essential to accurately monitor the entry of new banks by the central bank in order to improve the efficiency and performance of banking system in the field of credit and deposit interest rate.

One of the main goals of all countries is economic growth. This purpose can be accessible through having strong financial sector that provides finance for real sector. One of the main problems of the Iranian economy is the high share of the banking sector in financing economic activities. According to the evidence of statistical center of Iran, the share of the banking sector to finance economic activities is over 90 percent. Therefore, considering the importance of banking sector in economy, studying bank performance is very important. One of the criteria for banking performance is cost efficiency. Higher cost efficiency leads to an increase in the flexibility of banking sector to negative shocks. In the last year, the number of banks in Iran has increased; therefore, competition between banks will increase to gain higher share of the market. The banks' reactions to the increase competition cause changes in the financial structure of banks. This study tries to investigate if competition can have any effect on cost efficiency.

Theoretical literature on the relationship between competition and bank efficiency can be explained as follows. The Quiet Life Hypothesis (QLH) was first suggested by Hicks (1935). Based on QLH, market power allows firms to enjoy a quiet life, but such a life reduces firm managers’ effort to maximize their firm efficiency. In other words, managers can exercise market power of banks to gain supernormal profit without making efforts to work or control costs toward increasing bank efficiency. Thus, increased monopoly power results in a decrease in efficiency whereas competition fosters bank efficiency.
Demsetz (1973) in his Efficient-Structure Hypothesis (ESH) suggests that an efficient firm can lower costs of production and thus gain both higher profits and larger market shares. Thus, as the market becomes more concentrated and banks can exploit greater market power, they face less competition. As a result, the ESH posits a positive causality running from efficiency to market power.
The Information Generation Hypothesis (IGH) theorizes a negative relationship between competition and efficiency. IGH is based on the view that banks are special intermediaries because they have access to borrowers’ information to collect and analyze internal/personal information. Thus, they are able to reduce their adverse borrower selection to a minimum level due to the ability to generate superior information compared to their peers (Koetter, Kolari & Spierdijk, 2008). To summarize, competition among banks leads to a decline in their information-gathering capacities, and eventually results in a higher probability of adverse borrower selection and thus higher bank inefficiency.

In this study, parametric Stochastic Frontier Approach (SFA) is used to measure the cost efficiency of 18 Iranian commercial banks. The SFA is a stochastic method because it allows banks to be distant both from the frontier and randomness. It differs from Data Envelopment Analysis (DEA) which supposes that to be far from the frontier is entirely due to inefficiency. We then use these measures to examine whether bank competition enhances or impedes bank cost efficiency by employing generalized method of moment approach.

The results of cost inefficiency show that, the entire mean cost inefficiency of 18 Iranian commercial banks is 0.146 in 2006 and increases over the sample period to 0.265 in 2014. The cost inefficiency of Melli banks is the highest while that of Sina bank is the lowest. Cost inefficiency of privately-owned banks are relatively higher than stat-owned banks. The results of Granger-Causality indicated that there is bidirectional causality between competition and cost efficiency. Also, the results of GMM estimation show that higher inflation, low growth rate and higher competition have positive effect on cost inefficiency. Therefore, information generation hypothesis in Iran banking industry is verified because increasing competition leads to a decline in their information-gathering capacities, and eventually results in a higher probability of adverse borrower selection and thus higher bank inefficiency. These effects have been proved for loan and deposit market.
The results of factors affecting competition indicated that increasing inflation, growth rate, size of the banks and cost inefficiency have positive effect on competition. Therefore, the efficient-structure hypothesis can be confirmed, and higher cost inefficiency leads to increasing in competition.

One of main goals of this study is to find out the relationship between competition and cost inefficiency in banking industry over 2006-2014. The results of study show that macro-level variable is the most important in determining cost inefficiency. Therefore, creating economic stability and increasing economic growth can lead to an increase in cost efficiency. Moreover, the Central Bank’s supervision should increase over commercial banks and controlling entry of new banks for increasing the quality of banking system and increasing the quality of borrowers by strong screening process.

One of the most important aspects of financial deregulation is the freedom to compete in interest rates. The experiences of banking crises around the world have shown that, in most cases, high interest rates on deposits Not only does not prove the banking effectivity, but also points to Ponzi's gameplay in the banking system. The process is like this: the banks lend to risky clients and then the loan will be defaulted. As a result, banks are forced to attract deposits and repay debts. This trend has emerged in the banking system of Iran and in particular in recent years. The question is that in the competition for the attraction of deposits, what is the relativity between interest rates offered by the high-risk Bank and Low-Risk Bank. This question was answered through modeling the behavior of banks and loan applicants in the form of a two-stage game in the context of information asymmetry and by postulating some feature of banking system of Iran. The result shows that the interest rate offered by the high-risk bank is higher than the interest rate risk of the low risk bank. so, unhealthy banks have a significant role in directing interest rates.

Using Blundell and Bond generalized method of moments (GMM) system estimator, this study investigates the effect of degree of competition and capital requirements on the risk-taking of the Iranian banking system over the period 1385-1394. The results suggest that the first lag of degree of competition in the deposit market has a significant and positive effect on bank's risk-taking. But the increase in the degree of competition in the loan market, leads to bank's risk-taking reduction. Regarding the effect of capital to asset ratio on bank`s risk-taking, the results show a significant and negative effect on bank's risk-taking. Moreover, the results suggest that the increase in capital per unit of assets leads to reduction in bank's profitability. A decrease in bank's profitability due to increase in capital to asset ratio, leads to capital requirements inefficiency for mitigating bank's risk-taking.

This paper aims to contribute to the literature of industrial organization by conducting an analysis in the insurance industry on the effects of competition on soundness, where efficiency is considered as a transmission mechanism through which competition can contribute to soundness. Testing the transmission mechanism hypothesis is an appropriate approach for evaluating the effect of competition on the financial soundness. Using this hypothesis, which is introduced by Schaeck and Cihak, the competition can improve the financial stability. According to the industrial organization literature, increase of competition can lead to more efficiency and, as a result, to the improvement of financial stability. The figures indicate that the Boon indicator is a significant and negative variable, which confirms the hypothesis. In other word, the efficiency serves as a channel though which competition is converted to soundness.

The main aim of this article is to evaluate market structure dominant in food and beverage industry by using the non-structural Panzar-Rosse approach and non-parametric Herfindahl indicators and concentration ratio of four superior firms. For this purpose, the data of 22 active idustries ofthe four-digit ISICcode were used in Iranian food and beverage production over the years 1995-2007.Also in this research,according to the panel data, income and return equations based on Panzar-Rosse  approachhas been estimated using least square dummy variables (LSDV)method. The results obtained from thePanzar-Rosseapproachindicated that Iranian food and beverage industry had a competitive structure and it is far from monopolystructure. In addition, results obtained from theHerfindahl indicators and concentration ratio of four superior firms showed that theconcentration ratio of food and beverage industry was reduced during the mentioned years and more than half of the active classes of this industrywere working in a competitive environment.The most competitive of food and beverage industry’s classes are: “slaughtering of livestock and poultry”(code 1515), “bakery”(code 1545), while the most concentrated of its classes are: “manufacture of Malta and [non-alcoholic] beer”(code 1553), “tea maker”(code 1547).

The aim of this paper is introducing a new method to estimation monopoly power and uses it for 136 Iranian manufacturing industries at 4 digits ISIC level during 2005-2013. The method used is stochastic frontier approach. The results indicate that the markup of nearly 98 percent of manufacturing industries is between 10 and 40 percent and they have an uncompetitive behavior. The average industries markup in Iran had a rising trend over time, reducing their average returns to scale. According to the results; there are suggested canceling the exclusive advantages that used to grant to some industries, lowering the tariff for increasing foreign competition with implementation necessary standards in order to production, importing industerial outputs and expanding industerial activities in the form of cooperatives.

Exchange rate in Iran has been facing fluctuations for many years, and has been affected the economic structure. Therefore, studying the changes in Exchange rate is of great importance. In this regard, the present paper studies the effects of exchange rate shocks on investment and employment within a systematic multi-regional computable model using GTAP.8 in 2007. To assess the impact of these changes, two scenarios of a 10% increase and reduction in the exchange rate are considered. The results confirm the same movements of price and exchange rate. Increase in the exchange rate in agriculture, industry and mining sectors has caused a reduction in production and employment, but has caused an increase in both variables in the service, oil and gas sectors. The decline in the exchange rate has resulted in fall of production and consequently and employment in the service, oil and gas, sectors, but it has caused an increase in both variables in agriculture, industry and mining sectors. The total investment in all areas examined is in line with exchange rate changes. Therefore, positive exchange rate shocks can increase overall employment rate. The issue is important because the share of employment in the service, oil and gas sectors is more than its share in agriculture, industry and mining ones. In addition, the positive exchange rate shock results in an increase in investment, regarding the structure of exports and imports.

Competition has not been an easy task in the field of insurance. Despite the fact that in the recent decades there has been some regulatory changes, and regulators’ approach tends toward more competition and prudential regulation, the regulatory approach to insurance markets from around the world has led to engendering barriers for competition. In this paper, we shall try to examine various elements and factors which could improve or reduce competition in the insurance market; accordingly, we attempt to show that the insurance market is not excluded from competition and antitrust laws. Furthermore, to improve the efficiency and quality of services in the market, it should be directed to a more competitive insurance market through cooperation and integration at various levels and to a certain extent, reducing barriers to entry, reforming discriminatory regulations, reducing government intervention, increasing the role of the Competition Council and paving the way for the entry of foreign companies.