A careful case study of the entire history of the turboprop engine industry (1948-1997) is offered as an example of non shakeout pattern. The persistence of high concentration is not associated to the exit of smaller manufacturers, but instead a stable coexistence of generalist and specialist strategies emerges, in sharp contrast to the pattern observed in the otherwise similar jet engine industry. This paper operationalises the relevant variables of a more general theory of industry life cycle by taking into account the lack of creation of significant increasing returns in R&D, manufacturing or marketing, which is commonly found in industries which produce systemic products.
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Paper provided by Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy in its series LEM Papers Series with number
1999/10.
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