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Abstract
This paper investigates the market structure of the Greek food and beverages
manufacturing industry over the period 1984–2007 at the three-digit SIC level. Based
on the Hall-Roeger approach (1995), three models are used to investigate the
competitive conditions in the industry. The first model (Hall-Roeger model) assesses the
markup in the whole industry over the period 1984–2007. The second model (HallRoeger
cross-sectional model) tests the extent of the markup for each of the nine sectors
of the industry over the period 1984–2007, whereas the third (Hall-Roeger time-series
model) estimates the markup for the whole industry for certain sub-periods of the period
1984–2007. The present paper also investigates factors affecting the markup in the
Greek food and beverages manufacturing industry during the period 1984–2007. The
empirical results indicate that the whole Greek food and beverages manufacturing
industry, as well as each sector of the industry, operates in non-competitive conditions
during the period 1984–2007. Furthermore, the industry operates in non-competitive
conditions for certain sub-periods of the period 1984–2007. The findings also support
the view that the sector size, capital intensity and the number of establishments
influence the markup in Greek food and beverages manufacturing during the period
1984–2007