Banca de DEFESA: FABIO DE MEDEIROS SOUZA

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
STUDENT : FABIO DE MEDEIROS SOUZA
DATE: 04/06/2025
TIME: 14:00
LOCAL: a definir
TITLE:

An Empirical Study on the Evolution of Market Power in Brazilian Industry (1990-2024)

KEY WORDS:

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

PAGES: 57
BIG AREA: Ciências Sociais Aplicadas
AREA: Economia
SUMMARY:

This dissertation comprises the academic article "An Empirical Study on the Evolution of Market Power in Brazilian Industry (1990-2024)", which examines the evolution of market power across Brazilian industrial sectors over a thirty-four-year period. Utilizing microdata from companies listed on Brazil's B3 stock exchange, the research employs a production function approach to estimate sectoral markups. The ndings reveal three distinct phases in the evolution of market power in Brazilian industry: (i) initial stability at elevated levels (1990-2000), with average markups of 1.40; (ii) consistent decline (2000-2010), reaching 1.35; and (iii) stabilization with pronounced volatility (2010-2024), uctuating around 1.33. This trajectory notably contrasts with international evidence of persistently increasing markups in advanced economies. The observed pattern aligns with specic transmission mechanisms related to international trade. Initially, productivity gains through access to imported inputs counterbalanced competitive pressures from trade liberalization. Subsequently, intensied international competitionparticularly from China following its WTO accessionforced margin reductions across Brazilian industries. Finally, the 2010-2024 period exhibits markup stabilization at lower levels (averaging 1.335), albeit with signicant volatility across sectors and time, suggesting a new competitive equilibrium following previous structural shocks. The research also documents substantial sectoral heterogeneity, with average markups ranging from 0.76 in food and beverages to 1.82 in wood and paper industries. Formal structural break tests conrm the robustness of the proposed periodization. Through decomposition of markup variance and correlation analysis with productivity measures, the study provides insights into the underlying mechanisms driving competitive dynamics. The ndings have signicant implications for industrial and competition policy, suggesting the need for sectorally-calibrated approaches that consider specic structural characteristics in promoting market contestability. This research contributes to the empirical literature on market power in emerging economies and provides a methodological framework for analyzing competitive dynamics in the context of international trade shocks.

COMMITTEE MEMBERS:
Externo à Instituição - EDUARDO PONTUAL RIBEIRO - UFRJ
Interno - 1550794 - JOSE GUILHERME DE LARA RESENDE
Interno - 1229140 - ROBERTO DE GOES ELLERY JUNIOR
Interno - 1549181 - VICTOR GOMES E SILVA