NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Mergers as Reallocation

Boyan Jovanovic, Peter L. Rousseau

NBER Working Paper No. 9279
Issued in October 2002
NBER Program(s):   DAE   EFG   PR

We argue that takeovers have played a major role in speeding up the diffusion of new technology. The role that they play is similar to that of entry and exit of firms. We focus on and compare two periods: 1890-1930 during which electricity and the internal combustion engine spread through the U.S. economy, and 1971-2001 . the Information Age.

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Document Object Identifier (DOI): 10.3386/w9279

Published: Boyan Jovanovic & Peter L. Rousseau, 2008. "Mergers as Reallocation," The Review of Economics and Statistics, MIT Press, vol. 90(4), pages 765-776, 07.

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