The Evolution Of Competition In U. S. Manufacturing

Document Type

Article

Publication Date

12-1-1994

Published In

Review Of Industrial Organization

Abstract

Although four-digit concentration ratios remained roughly constant in the quarter century between 1958 and 1982, they declined significantly when adjusted for imports. The empirical analysis in this paper shows that changes in both types of four-digit concentration ratios were related to the initial level of industrial concentration, barriers to entry, market growth, and to a set of adjustment variables reflecting an interaction of imports and particular structural aspects of the industry. Speculations about the future of competition in the United States are based on the regression equations explaining changes in concentration.

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