TY - BOOK ID - 84540753 TI - Domestic Competition, Cyclical Fluctuations, and Long-Run Growth in Hong Kong Sar PY - 2000 SN - 1462395295 145276333X 1282061240 9786613799173 1451901437 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Finance: General KW - Labor KW - Macroeconomics KW - Industries: Manufacturing KW - Production and Operations Management KW - Price Level KW - Inflation KW - Deflation KW - Business Fluctuations KW - Cycles KW - Oligopoly and Other Imperfect Markets KW - Industrial Organization and Macroeconomics: Industrial Structure and Structural Change KW - Industrial Price Indices KW - General Financial Markets: General (includes Measurement and Data) KW - Industry Studies: Manufacturing: General KW - Labor Economics: General KW - Production KW - Cost KW - Capital and Total Factor Productivity KW - Capacity KW - Wages, Compensation, and Labor Costs: General KW - Labour KW - income economics KW - Finance KW - Manufacturing industries KW - Competition KW - Manufacturing KW - Total factor productivity KW - Labor share KW - Financial markets KW - Economic sectors KW - Labor economics KW - Industrial productivity KW - Wages KW - Hong Kong Special Administrative Region, People's Republic of China UR - https://www.unicat.be/uniCat?func=search&query=sysid:84540753 AB - This paper provides an empirical assessment of the degree of competition in Hong Kong SAR using industry-level data. Although due to data limitations only approximate measures of competitiveness can be estimated, the results do suggest that Hong Kong SAR is as competitive as a typical OECD economy. The dramatic shift of the economy toward services over the last decade has also made it slightly less competitive on average. Imperfect competition is not leading to counter-cyclical markups and slower price adjustment as some theories predict, however, since markups are more pro-cyclical than in OECD countries. Lastly, markups are sufficiently imperfectly competitive in both Hong Kong SAR and the OECD to significantly downwardly bias growth accounting estimates of total factor productivity in Asian NICs vis-à-vis OECD countries. ER -