The impact of the liberalization program on the price-cost margin and investment of Turkey's manufacturing sector after 1980

Metin-Ozcan K., VOYVODA E., YELDAN A. E.

EMERGING MARKETS FINANCE AND TRADE, vol.38, no.5, pp.72-103, 2002 (Peer-Reviewed Journal) identifier identifier

  • Publication Type: Article / Article
  • Volume: 38 Issue: 5
  • Publication Date: 2002
  • Journal Indexes: Social Sciences Citation Index, Scopus
  • Page Numbers: pp.72-103
  • Keywords: market concentration, markup, openness, Turkish manufacturing, 1990S


In this paper we investigate the structural consequences of the post-1980 outward-orientation on the market concentration and accumulation patterns in the Turkish manufacturing industries. Using various panel data procedures over twenty-nine subsectors of Turkish manufacturing for the 1980-1996 period, we focus on three sets of issues: (1) the effect of openness on the extent of market concentration as measured in CR4 ratios; (2) the behavior of gross profit margins (markups) in relation to openness, concentration ratios, and real wage costs; and (3) the behavior of sectoral real investments (by destination) in relation to the profit margins, real wage costs, and the openness indicator.