Banca de QUALIFICAÇÃO: FABIO DE MEDEIROS SOUZA

Uma banca de QUALIFICAÇÃO de MESTRADO foi cadastrada pelo programa.
STUDENT : FABIO DE MEDEIROS SOUZA
DATE: 10/03/2025
TIME: 10:00
LOCAL: A defesa será realizada por vídeoconferência
TITLE:

Competition or concentration? an empirical analysis on the evolution of market power in the Brazilian industry (1990 - 2024)

KEY WORDS:

Markup, Market Power, Industrial Organization, International Trade, Industrial Policy

PAGES: 39
BIG AREA: Ciências Sociais Aplicadas
AREA: Economia
SUMMARY:

This work analyzes the evolution of market power in the Brazilian industry between 1990 and 2024, using microdata from companies listed on the B3 Stock Exchange to estimate sectoral markups through the production function approach. The results reveal three distinct phases: (i) stability at high levels (1990-2004), with average markups of 1.35; (ii) consistent decline (2004-2016), reaching 1.20; and (iii) sharp volatility (2016-2024), oscillating between 1.15 and 1.30. This pattern contrasts with international evidence of a persistent markup increase (De Loecker and Eeckhout, 2018). It is shown, however, that this behavior is consistent with 2 mechanisms of international trade transmission: initially, productivity gains via access to imported inputs offset competitive pressures from trade liberalization; subsequently, the intensification of global competition, particularly Chinese, forced reductions in margins. There is also substantial sectoral heterogeneity, with average markups ranging from 0.5 (home appliances) to 2.2 (mineral extraction). The analysis suggests the need for sectorial calibrated industrial policies, considering specific structural characteristics in promoting market contestability.

COMMITTEE MEMBERS:
Externo à Instituição - EDUARDO PONTUAL RIBEIRO - UFRJ
Interno - 1549181 - VICTOR GOMES E SILVA