Kicking a Crude Habit: Diversifying Away from Oil and Gas in the 21st Century

Caroline Freund () and Dario Sidhu ()
Additional contact information
Dario Sidhu: Peterson Institute for International Economics

No WP17-3, Working Paper Series from Peterson Institute for International Economics

Abstract: Using firm level data, the authors examine how global industrial concentration has changed over the last decade in relation to the rise of China. Between 2006 and 2014, global concentration has declined in most industries and is falling on average across all industries, while firms at the top of the distribution are experiencing significant churning. The resulting enhanced industrial competition is partly attributable to the rising market shares of firms from China and other emerging markets at the expense of incumbent industry leaders. The authors further show evidence of global allocative efficiency—highly productive firms tend to be larger and grow faster. Global concentration has, however, risen significantly in several industries where Chinese state-owned enterprises (SOEs) dominate, and China’s SOEs are on average too large and expanding too fast given their low levels of productivity.

Keywords: big business; multinational enterprise; state-owned enterprise; concentration (search for similar items in EconPapers)
JEL-codes: D22 F23 (search for similar items in EconPapers)
Date: 2017-03
New Economics Papers: this item is included in nep-bec and nep-ene
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.piie.com/publications/working-papers/g ... ition-and-rise-china (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iie:wpaper:wp17-3

Access Statistics for this paper

More papers in Working Paper Series from Peterson Institute for International Economics Contact information at EDIRC.
Bibliographic data for series maintained by Peterson Institute webmaster ().