A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2017; you can also visit the original URL.
The file type is
Entering and incumbent firms can create new products and displace other firms' products. Incumbents can also improve their existing products. How much of aggregate growth occurs through each of these channels? Using U.S. Census data on manufacturing firms from 1963 through 2002, we arrive at three main conclusions: First, most growth has seemed to come from incumbents' innovation rather than innovation by entrants. We infer this from the modest market share of entering firms. Second, mostdoi:10.2139/ssrn.2896913 fatcat:sry7lqxekjdudlb67dvzcu63wm