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Embodiments of Entrepreneurial Spirit: «Gazelle-Firms» in Russia

  • Yudanov, A.

    (Finance Academy, Moscow, Russia)

Gazelles, 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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Article provided by New Economic Association in its journal Journal of the New Economic Association.

Volume (Year): (2010)
Issue (Month): 5 ()
Pages: 92-109

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Handle: RePEc:nea:journl:y:2010:i:5:p:92-109
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  1. Steven J. Davis & John Haltiwanger & Scott Schuh, 1993. "Small Business and Job Creation: Dissecting the Myth and Reassessing theFacts," NBER Working Papers 4492, National Bureau of Economic Research, Inc.
  2. Delmar, Frederic & Davidsson, Per & Gartner, William B., 2003. "Arriving at the high-growth firm," Journal of Business Venturing, Elsevier, vol. 18(2), pages 189-216, March.
  3. Henrekson, Magnus & Johansson, Dan, 2008. "Gazelles as Job Creators – A Survey and Interpretation of the Evidence," Ratio Working Papers 117, The Ratio Institute.
  4. Paul Schreyer, 2000. "High-Growth Firms and Employment," OECD Science, Technology and Industry Working Papers 2000/3, OECD Publishing.
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