Can R&D Input Influence Market Power? Facts about China's Pharmaceutical Manufacturing Industry

被引：1

作者：

Wang, Ruoya ^{[1
]}

Zhou, Yaodong ^{[1
]}

机构：

[1] Beijing Jiaotong Univ, Sch Econ & Management, 3rd Shangyuancun Rd, Beijing, Peoples R China

来源：

JOURNAL OF INSTITUTIONAL AND THEORETICAL ECONOMICS-ZEITSCHRIFT FUR DIE GESAMTE STAATSWISSENSCHAFT | 2021年 / 177卷 / 04期

关键词：

enterprise-level data; economies of scale; market concentration; NEIO; R&D; PRODUCTIVITY; COMPETITION; INNOVATION; PANEL;

D O I：

10.1628/jite-2021-0015

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In the pharmaceutical manufacturing industry, R&D activities play an important role in market competition. This study improves upon Klette???s method based on the framework of the New Empirical Industrial Organization (NEIO) and incor-porates enterprise-level R&D input as a separate input index, to verify the influ-ence of R&D on market power. Adopting data from the China Stock Market & Accounting Research (CSMAR) database and the National Bureau of Statistics of China, the generalized method of moments (GMM) is applied. Our findings demonstrate that there is insufficient market power, as well as diseconomies of scale, in China???s pharmaceutical manufacturing industry. Measuring R&D spend-ing separately renders our estimates more accurate.

引用

页码：428 / 448

页数：21

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