This paper investigates the market structure of the Greek manufacturing industry over the period 1984-2007 at the two-digit SIC level. Three models are used to investigate the competitive conditions of the manufacturing industry. The paper investigates factors affecting the markup of the Greek manufacturing industry by estimating two additional models, i.e., the markup cross-sectional model and the markup time-series model, for identifying both sectoral and intertemporal factors. The empirical results indicate that the whole Greek manufacturing industry, as well as each sector of the industry, operates in non-competitive conditions for each year during the period 1984-2007. The findings also support that labor intensity, the sector size, and the number of establishments influence the markup at the sectoral level, while labor intensity, and the growth and the number of establishments affect the markup over time.

In this paper, a two-step procedure is applied in order to investigate technical efficiency and its determinants in the Greek food and beverages manufacturing industry for the period 1984-2007. Technical efficiency scores for the industry are estimated using the data envelopment analysis approach. Moreover, bootstrapped truncated regressions and OLS regressions are applied in order to investigate the factors affecting technical efficiency. The empirical results indicate that there is a fluctuation of technical efficiency scores among the sectors of the food and beverages industry. Furthermore, the findings obtained from both the Tobit and the OLS regressions support that the factors affecting positively the level of technical efficiency are sector size, capital productivity, labor productivity, and labor intensity. The results also show that the technical efficiency of the whole industry tended to decrease during the period 1984-2007. Moreover, the present paper provides some policy recommendations that may be useful for the industry to overcome the present economic crisis. Finally, in future research, the technical efficiency of the Greek food industry will be analyzed based on the meta-analysis approach. [JEL Classifications: C60, L60, O14].

This paper extends the Hall-Roeger methodology in order to investigate the market structure and to measure the degree of market power in the Greek manufacturing sector over the period 1984-2007 as a whole and by subsector at the two-digit SIC level. The present paper also estimates the net and the total welfare losses in these market power scenarios. The bootstrap method is applied to assign measures of accuracy to the statistical estimates. The empirical results indicate some degree of market power and thus associated welfare losses for each subsector in the Greek manufacturing sector over the period 1984-2007.

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