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    Sectoral market power in global production: a theoretical and observational study

    Iliopoulos, P.T. and Galanis, G. and Kumar, Ashok and Popoyan, L. (2022) Sectoral market power in global production: a theoretical and observational study. Advances in Complex Systems 25 (02n03), ISSN 0219-5259.

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    Abstract

    In a globalized world, the distribution of value-added across firms depends on a number of factors that vary across space. A key factor is related to the different types of competition on the multilayer structure of production, which are characterized by different types of (market) power. In this paper, we first argue that PageRank centrality is able to capture sectoral market power within the complex structure of global production. We then study the empirical properties of this market power measure and demonstrate a power-law relationship between sectoral PageRank centrality and relative sectoral profits. This power-law relationship has (international) political economy implications as it demonstrates the high incentives of sectors to become more central to increase their relative profits.

    Metadata

    Item Type: Article
    School: School of Business, Economics & Informatics > Management
    Depositing User: Administrator
    Date Deposited: 05 Sep 2022 12:14
    Last Modified: 11 Sep 2022 07:18
    URI: https://eprints.bbk.ac.uk/id/eprint/49075

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