Competitive Conditions in the Turkish Non-Life Insurance Industry

Adnan Kasman; Evrim Turgutlu

doi:10.2202/1475-3693.1071

Article

Competitive Conditions in the Turkish Non-Life Insurance Industry

Adnan Kasman and Evrim Turgutlu

Published/Copyright: January 1, 2008

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From the journal Review of Middle East Economics and Finance Volume 4 Issue 1

This paper investigates the evolution of market structure in the Turkish insurance industry over the period 1996-2004, using the Panzar and Rosse (1987) methodology. The sample period has been divided into three sub-periods (1996-1998, 1999-2001, and 2002-2004). The results suggest that in the first and second sub-periods, the insurance firms operating in the Turkish insurance industry earned revenues under the monopoly or conjectural variations short-run oligopoly. In the third period, however, the results indicate that the insurance market was neither monopolistic nor perfectly competitive. Firm revenues were earned as if operating under monopolistic competition. Overall, the results show that market concentration is not significantly related to competitive conduct.

Keywords: competition; market structure; Turkish non-life insurance industry

Published Online: 2008-1-1

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Articles in the same Issue

https://doi.org/10.2202/1475-3693.1071

Keywords for this article

competition; market structure; Turkish non-life insurance industry