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Industrial Organization and New Findings on the Turnover and Mobility of Firms

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  • Richard E. Caves

Abstract

This paper surveys a large new literature derived from longitudinal data bases on the populations of firms and establishmnets in a number of countries. It shows the prevasiveness of turnover from entry and exit (high infant mortality of entrants); the entry process shows a good deal of rationality about entrants' chances and the importance of real options for entrants. Mobility and mean-regression processes are pervasive among incumbent firms. This evidence is related to the existing core of industrial organization, derived from equilibrium models, with emphasis on the integration of random processes and purposive behavior. Turnover and mobility are also related to productivity growth and the prevalence of productive inefficiency.

Suggested Citation

  • Richard E. Caves, 1997. "Industrial Organization and New Findings on the Turnover and Mobility of Firms," Harvard Institute of Economic Research Working Papers 1808, Harvard - Institute of Economic Research.
  • Handle: RePEc:fth:harver:1808
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    Cited by:

    1. Lucia Foster & John C. Haltiwanger & C. J. Krizan, 2001. "Aggregate Productivity Growth: Lessons from Microeconomic Evidence," NBER Chapters,in: New Developments in Productivity Analysis, pages 303-372 National Bureau of Economic Research, Inc.
    2. David Rigby & Jurgen Essletzbichler, 2000. "Impacts of Industry Mix, Technological Change, Selection and Plant Entry/Exit on Regional Productivity Growth," Regional Studies, Taylor & Francis Journals, vol. 34(4), pages 333-342.
    3. P. Geroski, 1998. "An Applied Econometrician's View of Large Company Performance," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 13(3), pages 271-294, June.
    4. Dhawan, Rajeev, 2001. "Firm size and productivity differential: theory and evidence from a panel of US firms," Journal of Economic Behavior & Organization, Elsevier, vol. 44(3), pages 269-293, March.
    5. John Haltiwanger, 2002. "Understanding aggregate growth: The need for microeconomic evidence," New Zealand Economic Papers, Taylor & Francis Journals, vol. 36(1), pages 33-58.
    6. Dieter F. Kogler & Jürgen Essletzbichler & David L. Rigby, 2017. "The evolution of specialization in the EU15 knowledge space," Journal of Economic Geography, Oxford University Press, vol. 17(2), pages 345-373.
    7. repec:wsi:jdexxx:v:12:y:2007:i:02:n:s1084946707000605 is not listed on IDEAS
    8. Kátia Cilene Medeiros De Carvalho & Luiz Fernando Cerqueira Fonseca, 2011. "Análise Dos Determinantes Da Entrada Esobrevivência Das Empresas No Brasil," Anais do XXXVIII Encontro Nacional de Economia [Proceedings of the 38th Brazilian Economics Meeting] 024, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].

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