Work number - M 20
Presented by Kyiv National University of Trade and Economics
The author: Gerasymenko A.G.
The goal of the paper is to determine the contemporary essence of the phenomena of market power, its sources and effects onto economy; to estimate the extent of its expansion in Ukrainian economy and its social and economic effects; to determine the vectors and instruments of optimization of market power impact onto economy.
Basing on the theoretical and empirical researches the author determines the channels of market power expansion in the economy and assesses the value of welfare loss from market power in Ukraine that is equal to the 1/3 of Ukrainian GDP.
The scientific basis of modern theory of market power is set up. It considers the market power as the basic theoretical matrix of market analysis. Modern economy must not be investigated on the base of perfect or even imperfect competition models because they consider the market power as the externality, while it is one of the internal determinants of its development. The recognition of the determinant role of market power in modern economy has been already obtained in current economic theory. The evidence of it is the award of J.Tirole by Noble price in 2014 for his analysis of market power and regulation. However, this scientist and his followers are mostly focused on the research of the regulated industries, while this work presents the complex methodology of market power investigation in the modern economy.
This work creates a concept of the analysis of distorting influence of market power upon the main economic processes, including the process of innovation-based transforming of an economy.
It suggests changing the methodological bases of formation and realization of competition policy by its convergence with other kinds of economic policy. This methodology is worked out in detail by the author up to the exact recommendations for national and regional public authorities.
Among the implemented recommendations of the author are the applying of the method of forecasting the structural changes in asymmetrically oligopolistic markets, the long-run approach to the assessment of the structural backgrounds of competition development, the way of grounding the list of high-priority markets for competition policy implementation, etc.
The results of this research have been implemented into the activity of Ministry of economic development and trade of Ukraine, Antimonopoly committee of Ukraine, State regulatory service of Ukraine, regional authorities and others.
The economic effect of the use of author’s recommendations of changing the criteria of prioritization the markets for competition policy implementation can be assessed by the growth of the value of economic effect of stopping antitrust infringements. In 2015 it was UAH 177 mln.
The number of publications: 113, among them are 4monographs, 5 textbooks, 54articles (8 – in the foreign scientific serials (Poland, Hungary, Serbia, Romania, Russia)). There are no citation of author’s publications in SCOPUS database. There are 62 citations in Google Scholar database (34 for this scientific work). The h-index = 4 (3 for this scientific work).