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Product Market Concentration and Productivity: Evidence from the UK

Product market concentration
Firm productivity
business dynamism
Business Structure Database (BSD)

Savagar,A., Aguda, O., Galanakis, Y., Wu, J., (2023), “Product Market Concentration and Productivity: Evidence from the UK”, Revise & Resubmit at Fiscal Studies

Authors
Affiliations

Anthony Savagar

University of Kent

Oluwaseun Aguda

University of Kent

Yannis Galanakis

King’s College London

Jingwei Wu

University of Kent

Published

December 2023

Abstract

We measure product market concentration and business dynamism in the UK from 1997 to 2020. We document this with administrative data on the population of UK firms from the Business Structure Database (BSD). Our results show that concentration in the UK is increasing among narrow industries on average, but for a broad market definition concentration and business dynamism are stable. Lastly, we document a negative relationship between concentration and productivity.

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