How Intensive Is Competition in the Emerging Markets? An Analysis of Corporate Rates of Return from Nine Emerging Markets

This large empirical study of corporate profitability in emerging markets during the 1980s and 1990s measures the intensity of competition. Data on corporate rates of return, profit margins, and output-capital ratios reveal that the recent liberalization has been associated with reduced corporate pr...

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Bibliographic Details
Main Author: Singh, Ajit
Other Authors: Glen, Jack, Matthias, Rudolph
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1999
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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260 |a Washington, D.C.  |b International Monetary Fund  |c 1999 
300 |a 44 pages 
651 4 |a India 
653 |a Manufacturing industries 
653 |a Asset requirements 
653 |a Capital adequacy requirements 
653 |a Finance 
653 |a Ownership & organization of enterprises 
653 |a Manufacturing 
653 |a Competition 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a General Financial Markets: General (includes Measurement and Data) 
653 |a Economic sectors 
653 |a Industry Studies: Manufacturing: General 
653 |a Corporate Finance 
653 |a Business enterprises 
653 |a Industries: Manufacturing 
653 |a Economic Development, Innovation, Technological Change, and Growth 
653 |a Financial markets 
653 |a Emerging and frontier financial markets 
653 |a Banks and Banking 
653 |a Financial Institutions and Services: General 
653 |a Financial services industry 
653 |a Financial regulation and supervision 
653 |a Financial services law & regulation 
653 |a Finance: General 
700 1 |a Glen, Jack 
700 1 |a Matthias, Rudolph 
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520 |a This large empirical study of corporate profitability in emerging markets during the 1980s and 1990s measures the intensity of competition. Data on corporate rates of return, profit margins, and output-capital ratios reveal that the recent liberalization has been associated with reduced corporate profit margins and improved capital utilization efficiency. The paper also analyzes persistency in corporate profitability and finds that competitiveness was no less intense in developing countries than in advanced countries. Although the paper is not directly concerned with the Asian crisis, it provides evidence on important structural hypotheses about the crisis