Intangibles and industry concentration: a cross-country analysis

Bajgar, Matej, Criscuolo, Chiara ORCID: 0000-0002-0428-7884 and Timmis, Jonathan (2025) Intangibles and industry concentration: a cross-country analysis. Oxford Bulletin of Economics and Statistics. ISSN 0305-9049

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Abstract

This paper presents new evidence on the growing scale of large businesses in the United States, Japan and 11 European countries. It documents a broad increase in industry concentration across the majority of countries and sectors over the period 2002–2017. The rising concentration is strongly linked to investment in intangibles—particularly innovative assets; and software and data—and this relationship is magnified in more globalised industries. The results are consistent with intangibles disproportionately benefiting large firms, enabling them to scale up and increase their market shares by leveraging intangibles across multiple markets.

Item Type:	Article
Additional Information:	© 2025 The Author(s)
Divisions:	Centre for Economic Performance
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HA Statistics
JEL classification:	E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Employment, and Investment > E22 - Capital; Investment (including Inventories); Capacity L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L10 - General L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L25 - Firm Performance: Size, Diversification and Scope, Age, Profit, and Sales
Date Deposited:	08 Jan 2025 12:18
Last Modified:	13 Feb 2025 17:43
URI:	http://eprints.lse.ac.uk/id/eprint/126673

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