McKinsey Global Institute on industry concentration

There’s a bunch in their new report on productivity growth that relates, but here’s their bottom line:

In our sector deep dives, we find evidence of increased business concentration and consolidation but do not find that rising concentration has contributed to the decline in productivity growth.1 We continue to find evidence of strong competitive pressure and innovation across industries. However, we caution that this may not be the case in the future if changes in industry structure reduce competitive intensity as well as incentives to innovate and improve operational performance.

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