RT info:eu-repo/semantics/workingPaper T1 When is concentration beneficial? Evidence from U.S. manufacturing A1 López, Rigoberto A. A1 López Díaz-Delgado, Elena A1 Liron-Espana, Carmen K1 Concentration K1 Welfare K1 Economies of size K1 Market power K1 Manufacturing K1 L11 K1 L60 K1 D43 K1 D61 K1 F12 K1 Ciencias económicas K1 Estadística K1 Economics K1 Statistics AB This article estimates the impact of industrial concentration on market power and cost and then links the ensuing welfare changes to market structure characteristics using a sample of 232 U.S. manufacturing industries. Empirical results indicate that further increases in concentration would enhance welfare in 70% of the industries due to widespread efficiency gains, although these would generally not be passed on to consumers. From a social standpoint, further concentration is more likely to be beneficial in industries with economies of size, high export intensity, which are engaged in consumer-oriented goods, face larger markets, and have low or moderate levels of initial concentration. PB Universidad de Alcalá. Departamento de Estadística, Estructura Económica y Organización Económica Internacional YR 2009 FD 2009-01 LK http://hdl.handle.net/10017/2405 UL http://hdl.handle.net/10017/2405 LA eng DS MINDS@UW RD 29-mar-2024