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If a book needs a third edition, because the previous ones are sold out, one may well question whether an introduction is necessary. However, the Structure of European Industry was meant to be a flexible book, keeping it in tune with actual developments in the European Community. Some explanation is therefore required. Two new chapters on the services industry have been included, to recognize the growing importance of what is fundamentally a bundle of industries. It is also increasingly acknowledged, that the motorcar industry, for its efficiency and innovativeness, is very much dependent on the numerous suppliers, large and small, of the component parts industry. A chapter, reflecting on the strengths and weaknesses of the European car supplying industries is therefore most welcome. Finally, European competition policy, now fitted out with the Merger Control Regulation is moving more and more towards the centre of stage and the final chapter presents a survey of the ~ims and achievements of this type of policy, up till now steadfastly developed by the EC Commission. For the rest, the chapters which were already in the previous edition, have been updated and have partly been rewritten by the authors concerned. The editor is most grateful to old and new contributors for their efforts to jointly produce a book which, after 12 years, is still unique in providing a European, instead of a national focus on industries and markets.
I Market structures in the European Economic Community.- 1. Market structure: principles.- 2. Overall concentration or intermarket competition.- 3. Sectors and product markets: intermarket competition.- 4. The dynamics of market structure.- 5. Some central concepts.- 6. Routes to increased combination of firms.- 7. Conclusion.- References.- II Oil refineries and petrochemical industries: coping with the mid-life crisis.- 1. Introduction.- 2. General features.- 3. Oil refining.- 4. Petrochemicals.- 5. Conclusions.- References.- III The steel industry: a crisis of adaptation.- 1. Introduction.- 2. Institutional framework.- 3. Market structure.- 4. The development of the European steel industry since 1953.- 5. Policy conclusions.- Notes.- References.- IV The pulp and paper industry.- 1. Introduction.- 2. Basic characteristics.- 3. Market structure.- 4. Firms’ strategies.- 5. Public policy.- 6. Performance.- Notes.- References.- V Motorcars: between growth and protectionism.- 1. The uneasy triangle of competition policy.- 2. The fifties: a period of peaceful coexistence.- 3. The sixties: rapid growth and increasing competition.- 4. The seventies and the eighties: new challenges — unsolved problems.- 5. Perspectives of international competitiveness — the threat of protectionism.- References.- VI The automotive industry: supply relations in context.- 1. Introduction.- 2. Sourcing in the EC compared to Japan.- 3. Component development: innovativeness and R&D efficiency.- 4. An illustration: the case of Mercedes-Benz.- 5. Outlook and conclusions.- References.- VII The domestic appliance industry 1945 - 1991.- 1. Introduction.- 2. Oligopoly, barriers to entry, differentiation.- 3. The first period of stability (1945-1958).- 4. The first period of reorganization (1958-1970).- 5. The second period of stability (1970-1982).- 6. The second period of reorganization.- 7. Conclusion.- References.- VIII The textile industry: widely varying structures.- 1. The evolution of the structure of the European textile industries.- 2. Typologies of the observed structural evolutions.- 3. How are the structural transformations to be explained?.- 4. Conclusion.- Notes.- References.- IX The pharmaceutical industry: towards one single market?.- 1. Trends, issues and key figures.- 2. Characteristics of the demand for prescription drugs.- 3. Market structure.- 4. Research and innovation.- 5. Patent protection.- 6. Generic competition and consolidation.- 7. Towards a single market for drugs?.- 8. Competitive performance of the European pharmaceutical industry.- References.- X Telecommunications: global restructuring at full speed.- 1. Introduction.- 2. The structure of the telecommunications industry.- 3. The structure of the telecommunications equipment manufacturing industry.- 4. Trade flows in telecommunications equipment between the EC, the US and Japan.- 5. New market opportunities in telecommunications equipment and services.- 6. Co-operation and concentration: the development of new consortia.- 7. Future outlook.- References.- XI Aerospace: the political economy of an industry.- 1. Introduction.- 2. The market.- 3. The economics of aerospace industries.- 4. Structure and performance.- 5. Collaboration.- 6. Conclusion.- Notes.- XII Service industries: innovation and internationalization.- 1. The service sector in perspective.- 2. Description of the services sector in Europe.- 3. Strategic trends.- 4. The competitiveness of European service industries.- 5. Policy issues.- Notes.- References.- XIII Structure and growth of business services in Europe.- 1. Introduction.- 2. Development of a market for business services.- 3. The demand for business services.- 4. Supply of business services.- 5. The institutional structure of the business services market.- 6. Conclusion.- References.- XIV European competition policy: goals and achievements.- 1. Introduction.- 2. Why competition policy?.- 3. EC competition policy.- 4. Concluding remarks.- Notes.