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Right arrow D24 - Production; Cost; Capital and Total Factor Productivity; Capacity
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© 1996 Oxford University Press

research-article

The Dynamics and Evolution of Industries

FRANCO MALERBA and LUIGI ORSENIGO

Department of Economics, Bocconi University Via Sarfatti 25, 1–20136 Milan, Italy

Abstract

The empirical evidence, the major stylized facts, the current explanations and the relevant unanswered questions concerning the dynamics and evolution of industrial structure are discussed in this paper. Three levels of analysis of the dynamics and evolution of industries are distinguished: specific dimensions of industry dynamics, structural dynamics and structural evolution. The first level refers to the dynamics related to specific features of industrial structures such as industrial demography, firm growth and size distribution and persistence in asymmetric performance at the firm level. The second refers to the dynamics over time of structural variables: entry, exit, firm size and concentration, as well as product and process innovation. The third refers to a broader view of industrial structure and its evolution over time: the emergence of new industries, the generation and transformation of technologies and products within an industry, the development and change of capabilities, the changing boundaries of firms in terms of growth, vertical integration, diversification, the development of networks and the role played by institutions (such as the government, scientific institutions, financial institutions, suppliers and users).


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