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Markups and Concentration in the Context of Digitization: Evidence from German Manufacturing Industries

Research output: Journal contributions › Journal articles › Research › peer-review

Standard

Markups and Concentration in the Context of Digitization: Evidence from German Manufacturing Industries. / Weche, John P.; Wagner, Joachim.
In: Jahrbucher für Nationalokonomie und Statistik, Vol. 241, No. 5-6, 25.11.2021, p. 667-699.

Research output: Journal contributions › Journal articles › Research › peer-review

Harvard

Weche, JP & Wagner, J 2021, 'Markups and Concentration in the Context of Digitization: Evidence from German Manufacturing Industries', Jahrbucher für Nationalokonomie und Statistik, vol. 241, no. 5-6, pp. 667-699. https://doi.org/10.1515/jbnst-2020-0046

APA

Weche, J. P., & Wagner, J. (2021). Markups and Concentration in the Context of Digitization: Evidence from German Manufacturing Industries. Jahrbucher für Nationalokonomie und Statistik, 241(5-6), 667-699. https://doi.org/10.1515/jbnst-2020-0046

Vancouver

Weche JP, Wagner J. Markups and Concentration in the Context of Digitization: Evidence from German Manufacturing Industries. Jahrbucher für Nationalokonomie und Statistik. 2021 Nov 25;241(5-6):667-699. doi: 10.1515/jbnst-2020-0046

Bibtex

@article{23b17ca91dca4c9285ccd1d8b13ed19f,
title = "Markups and Concentration in the Context of Digitization: Evidence from German Manufacturing Industries",
abstract = "Recent empirical studies suggest that there is a rising trend of market power across sectors in advanced economies. We contribute to this line of research by providing industry-specific evidence for German manufacturing industries, based on representative high-quality firm-level data from official statistics that cover firms from all size classes with more than 20 employees (2005-2013). We compare firm-specific markups and industry concentration as market power indicators that reflect a market structure and a performance perspective, respectively. Our results do not suggest an overall average increase in market power in German manufacturing, but increasing markups and an increasing concentration in many industries. We demonstrate the complementarity of the indicators, as predicted by industrial organization theory. We also evaluate the competitive impact of digitization and find no clear evidence that digital transformation and market power go hand in hand.",
keywords = "business concentration, digitalization, Germany, manufacturing, market power, markups, Economics",
author = "Weche, {John P.} and Joachim Wagner",
note = "Publisher Copyright: {\textcopyright} 2021 Walter de Gruyter GmbH, Berlin/Boston.",
year = "2021",
month = nov,
day = "25",
doi = "10.1515/jbnst-2020-0046",
language = "English",
volume = "241",
pages = "667--699",
journal = "Jahrbucher f{\"u}r Nationalokonomie und Statistik",
issn = "0021-4027",
publisher = "Walter de Gruyter GmbH",
number = "5-6",

}

RIS

TY - JOUR

T1 - Markups and Concentration in the Context of Digitization

T2 - Evidence from German Manufacturing Industries

AU - Weche, John P.

AU - Wagner, Joachim

N1 - Publisher Copyright: © 2021 Walter de Gruyter GmbH, Berlin/Boston.

PY - 2021/11/25

Y1 - 2021/11/25

N2 - Recent empirical studies suggest that there is a rising trend of market power across sectors in advanced economies. We contribute to this line of research by providing industry-specific evidence for German manufacturing industries, based on representative high-quality firm-level data from official statistics that cover firms from all size classes with more than 20 employees (2005-2013). We compare firm-specific markups and industry concentration as market power indicators that reflect a market structure and a performance perspective, respectively. Our results do not suggest an overall average increase in market power in German manufacturing, but increasing markups and an increasing concentration in many industries. We demonstrate the complementarity of the indicators, as predicted by industrial organization theory. We also evaluate the competitive impact of digitization and find no clear evidence that digital transformation and market power go hand in hand.

AB - Recent empirical studies suggest that there is a rising trend of market power across sectors in advanced economies. We contribute to this line of research by providing industry-specific evidence for German manufacturing industries, based on representative high-quality firm-level data from official statistics that cover firms from all size classes with more than 20 employees (2005-2013). We compare firm-specific markups and industry concentration as market power indicators that reflect a market structure and a performance perspective, respectively. Our results do not suggest an overall average increase in market power in German manufacturing, but increasing markups and an increasing concentration in many industries. We demonstrate the complementarity of the indicators, as predicted by industrial organization theory. We also evaluate the competitive impact of digitization and find no clear evidence that digital transformation and market power go hand in hand.

KW - business concentration

KW - digitalization

KW - Germany

KW - manufacturing

KW - market power

KW - markups

KW - Economics

UR - http://www.scopus.com/inward/record.url?scp=85117151276&partnerID=8YFLogxK

U2 - 10.1515/jbnst-2020-0046

DO - 10.1515/jbnst-2020-0046

M3 - Journal articles

AN - SCOPUS:85117151276

VL - 241

SP - 667

EP - 699

JO - Jahrbucher für Nationalokonomie und Statistik

JF - Jahrbucher für Nationalokonomie und Statistik

SN - 0021-4027

IS - 5-6

ER -

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