Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/237448 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
IDB Working Paper Series No. IDB-WP-1149
Verlag: 
Inter-American Development Bank (IDB), Washington, DC
Zusammenfassung: 
We assess the consequences for consumers in 76 countries of multinational acquisitions in beer and spirits. Outcomes depend on how changes in ownership affect markups versus efficiency. We find that owner fixed effects contribute very little to the performance of brands. On average, foreign ownership tends to raise costs and lower appeal. Using the estimated model, we simulate the consequences of counter-factual national merger regulation. The US beer price index would have been 4-7% higher without divestitures. Up to 30% savings could have been obtained in Latin America by emulating the pro-competition policies of the US and EU.
Schlagwörter: 
Multinationals
Oligopoly
Markups
Concentration
Firm effects
Brands
Frictions
Mergers and acquisitions
Competition policy
JEL: 
F12
F23
F61
K21
L13
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
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Dokumentart: 
Working Paper

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