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Gazelles, Industry Growth and Structural Change

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  • J.W.B. Bos
  • E. Stam

Abstract

This paper examines to what extent gazelles are the drivers of the growth of industries and structural change. To this purpose we analyze gazelles over a 12 year period (annually from 1997 until 2008) in the Netherlands, and relate them to the dynamics in employment per industry. We use a panel vector autoregressive (PVAR) model to explore the relations between the presence of gazelles and industry (employment) growth (with 43 two digit industries). An increase in the presence of gazelles in an industry appears to have a positive effect on the subsequent growth of the industry. We do not find evidence for an inverse causal relation: there are no long run positive effects of increases in industry growth on the presence of gazelles. There is also no relation between the overrepresentation of gazelles and subsequent industry growth.

Suggested Citation

  • J.W.B. Bos & E. Stam, 2011. "Gazelles, Industry Growth and Structural Change," Working Papers 11-02, Utrecht School of Economics.
    • Handle: RePEc:use:tkiwps:1102
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    Cited by:

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    2. Francesca de Nicola & Balázs Muraközy & Shawn W. Tan, 2021. "Spillovers from high growth firms: evidence from Hungary," Small Business Economics, Springer, vol. 57(1), pages 127-150, June.
    3. Salustiano Martínez‐Fierro & José María Biedma‐Ferrer & José Ruiz‐Navarro, 2020. "Impact of high‐growth start‐ups on entrepreneurial environment based on the level of national economic development," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1007-1020, March.
    4. Patrícia Bogas & Natália Barbosa, 2015. "High-Growth Firms: What Is the Impact of Region-Specific Characteristics?," International Studies in Entrepreneurship, in: Rui Baptista & João Leitão (ed.), Entrepreneurship, Human Capital, and Regional Development, edition 127, chapter 0, pages 295-308, Springer.
    5. José Miguel Giner & María Jesús Santa-María & Antonio Fuster, 2017. "High-growth firms: does location matter?," International Entrepreneurship and Management Journal, Springer, vol. 13(1), pages 75-96, March.
    6. Coad, Alex & Daunfeldt, Sven-Olov & Johansson, Dan & Wennberg, Karl, 2011. "Who do High-growth Firms Employ, and Who do they Hire?," Ratio Working Papers 169, The Ratio Institute.
    7. Michael Fritsch, 2012. "Methods of analyzing the relationship between new business formation and regional development," Jena Economics Research Papers 2012-064, Friedrich-Schiller-University Jena.

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    More about this item

    Keywords

    entrepreneurship; gazelles; industry growth; structural economic change;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General

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