Embodiments of Entrepreneurial Spirit: «Gazelle-Firms» in Russia
AbstractGazelles, i.e. firms showing rapid growth over a long period of time, have a strong impact on national economic development; that is why they are widely studied in the developed countries. The purpose of this article is to present the results of the first empiric study of gazelles in Russia. The number of gazelles in this country is higher, while their relative contribution to GDP growth is lower, than in the Western countries. Gazelles are the only type of middle and large Russian firms with positive long-term dynamics of employment. They are also the active agents of technological imitation and innovation processes. The rapid growth of Russian gazelles tends to follow an exponential law. We suppose the last phenomenon to be the prime result of entrepreneurial nature of gazelles.
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Bibliographic InfoArticle provided by New Economic Association in its journal Journal of the New Economic Association.
Volume (Year): (2010)
Issue (Month): 5 ()
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Fast growing firms; high-growth firms; entrepreneurship; economic growth; exponential growth; innovation; gazelles;
Find related papers by JEL classification:
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
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