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Fast Growing Firms ("Gazelles") and the Evolution of Russian Economy

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  • A. Yudanov

Abstract

The article is based on the empirical study of fast growing firms ("Gazelles") in Russia. Sales volumes of many such firms are growing in accordance with the precise exponential trend with surprisingly high quality of approximation. The author finds strong links between this phenomenon and the concentration of most of "Gazelles" in market niches where demand limitations are practically non-existent. Conscious, purposeful entrepreneurial search of free niches becomes under described conditions an important addition to the classic mechanism of evolution of the economy through the natural selection of random changes. The author’s approach to these processes is based on a modification of the well known Lotka-Volterra model.

Suggested Citation

  • A. Yudanov, 2007. "Fast Growing Firms ("Gazelles") and the Evolution of Russian Economy," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 2.
    • Handle: RePEc:nos:voprec:y:2007:id:1570
    DOI: 10.32609/0042-8736-2007-2-85-100
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