Browsing by Subject "market structure"

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  • Kar, Ashim Kumar; Bali Swain, Ranjula (2018)
    Do microfinance institutions (MFIs) operate in a monopoly, monopolistic competition environment or are their revenues derived under perfect competition markets? We employ the Panzar–Rosse revenue test on a global panel data to assess the competitive environment in which MFIs of five selected countries operate: Ecuador, India, Indonesia, Peru and Philippines, over the period 2005–2009. We estimate the static and the dynamic revenue tests, with analyses of the interest rate and the return on assets. We control for microfinance-specific variables such as capital assets-ratio, loans-assets and the size of the MFI. The analyses also account for the endogeneity problem by employing the fixed-effects two-stage least squares and the fixed-effects system generalized method of moments. Our results suggest that MFIs in Peru and India operate in a monopolistic environment. We also find weak evidence that the microfinance industry in Ecuador, Indonesia and Philippines may operate under perfect competition.
  • Kunttu, Janni; Hurmekoski, Elias; Myllyviita, Tanja; Wallius, Venla; Kilpeläinen, Antti; Hujala, Teppo; Leskinen, Pekka; Hetemäki, Lauri; Heräjärvi, Henrik (IPC Science and Technology Press, 2021)
    Futures 134 (2021), 102833
    To obtain net climate benefits from intensified forest utilization in the short-term, the substitution impact of wood harvesting and increased carbon stocks of wood-based products should be higher than the forest carbon stock loss. However, the product specific substitution impacts change dynamically over time along with technological development, and long-term climate change mitigation strategies need to consider this, as well as the market forces. We identified future pathways enabling globally market viable environments for wood utilization scenarios in Finland resulting in net climate benefits in 2050. We I) indicated substitution impacts in 2050 applying future-oriented parameter modification based on LCA, and developed quantitative target scenarios by altering wood-based product portfolios to achieve required substitution, and II) identified pathways enabling scenarios by applying participatory backcasting. In the scenarios, a major shift from primary energy use to high added-value products including textiles, chemicals, composites and advanced biofuels, or long-lifetime construction products was needed and more lifecycles for wood products by recycling were required. The actions enabling market viable environment focused on the global level policies and consumer perceptions, while actions locally were limited and current production technology development oriented. We recommend multi-target backcasting together with LCA to analyse more synergies and trade-offs.
  • Utecht, Jan Timm (2002)
    The first part of this thesis is an elaboration on the Market Structure and Technology approach. As an introduction to the discussion on the approach an overview on what has been done by different economists (starting from Schumpeter) over time is provided. As theoretic foundation Sutton's gametheoretic model on "Technology and Market Structure" is considered. This thesis tries to show its compatibility to the electricity market and whether it can expiain changes in the market structure and consequentiy technologicai advances in green electricity generation. An introduction to the model considering a linear demand model wili start the analysis of Sutton's model. Thereafter, the basic setting of Sutton's game-theoretic approach wili broaden the analysis. The second part of this thesis wili enhance the model specification, the deregulation in the electricity market in Finland and Germany and the potential market structure development in the electricity industry. Criticai remarks on the modei's suitability wili foliow. Furthermore will be pointed out which problems occur by unravelling the levei of the observable variables from Sutton's model using existing data on Germany and Finland's electricity markets. Because of statisticai deficiencies for available data on the proxy variables resuits of a smali survey on the electricity generating industry in Finland, which could be used for further research in the area, wili be presented. Finally, conciuding remarks wili evaluate the model's suitability and the potentiai threats to the levei of concentration in the electricity market as weli as the influence on R&D in green technologies