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Gazelles, Industry Growth and Structural Change

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  • Bos Jaap W.B.
  • Stam Erik

    (METEOR)

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 foran 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 over-representation of gazelles and subsequent industry growth.

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Bibliographic Info

Paper provided by Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR) in its series Research Memorandum with number 018.

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Date of creation: 2011
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Handle: RePEc:unm:umamet:2011018

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Web page: http://www.maastrichtuniversity.nl/
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Keywords: industrial organization ;

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Cited by:
  1. Michael Fritsch, 2012. "Methods of analyzing the relationship between new business formation and regional development," Jena Economic Research Papers, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics 2012-064, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  2. Coad, Alex & Daunfeldt, Sven-Olov & Johansson, Dan & Wennberg, Karl, 2011. "Who do High-growth Firms Employ, and Who do they Hire?," Ratio Working Papers, The Ratio Institute 169, The Ratio Institute.

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