American Economic Journal: Applied Economics · 2025 · Fabrizio Leone、Rocco Macchiavello、Tristan Reed
中文摘要
在发展中经济体——尤其是非洲，包括水泥在内的若干中间投入品价格更高。我们将国际比较项目的最新数据与全球水泥企业名录相结合，估计了一个行业均衡模型，以区分国际价格差异的驱动因素：需求、成本、市场行为和企业进入。发展中经济体同时具有更高的边际成本和更高的加成。非洲市场并非以竞争行为较弱为特征；如果说有什么不同的话，其进入壁垒反而更低。然而，许多国家市场规模较小，限制了企业进入和竞争，这解释了较高加成和价格的大部分。本文讨论了政策含义。(JEL D24, L13, L61, O14)
Abstract
Prices for several intermediate inputs, including cement, are higher in developing economies—particularly in Africa. Combining recent data from the International Comparison Program with a global directory of cement firms, we estimate an industry equilibrium model to distinguish between drivers of international price dispersion: demand, costs, conduct, and entry. Developing economies feature both higher marginal costs and higher markups. African markets are not characterized by less competitive conduct and, if anything, feature lower barriers to entry. Yet the small size of many national markets limits entry and competition and explains most of the higher markups and prices. Policy implications are discussed. (JEL D24, L13, L61, O14)