MARKET STRUCTURE AND PRICE-COST MARGINS:A COMPARATIVE ANALYSIS OF U.K. AND U.S. MANUFACTURING INDUSTRIES

This paper reports a comparative study of market structure- performance relations in U. K. and U.S. manufacturing indus- tries. The multivariate regression results support the hypothesis of homogeneity of the links between market structure and the price-cost margin dimension of performance in manufacturing industries of the two countries. Furthermore, the results indicate that the differences in the legal and cultural environments of U.K. and U.S. industries do not significantly affect the pattern of similarity in the links.