We try to estimate the welfare loss of manufacturing industry in Korea based upon oligopoly market structure. We find in the empirical result that the welfare lass in Korea was estimated by 8.45% in 1981, 4.87% in 1990, 3.36% in 1998 in terms of GDP, ...
We try to estimate the welfare loss of manufacturing industry in Korea based upon oligopoly market structure. We find in the empirical result that the welfare lass in Korea was estimated by 8.45% in 1981, 4.87% in 1990, 3.36% in 1998 in terms of GDP, which it was continuously declined due to the open market policy induced by the trade liberalization policy in Korea.