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Regional competitiveness and high growth firms in the EU: the creativity premium

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  • Leo Sleuwaegen
  • Sander Ramboer

Abstract

The finding that the economic performance of regions is driven by a small set of productive firms calls for a granular analysis of regional growth and competitiveness. Among the productive firms, a significant contribution is made by so-called high-growth firms (HGFs), which also account for the bulk of new jobs created in the region. In this paper, we examine the variation in the incidence of HGFs across a wide set of EU regions in relation to the regional entrepreneurial ecosystem. Looking through the lens of the experimentally oriented economy, we conceptualize the essential role that the creative class plays in the formation of collaborative innovation blocs from which dynamic entrepreneurship and high-growth firms emerge. We present original evidence showing that, for the human capital present in the region, employment in creative occupations has the strongest impact on the occurrence of high-growth firms. Our evidence also points to the stimulating role played by the quality of market-supporting institutions, agglomeration, and infrastructure.

Suggested Citation

  • Leo Sleuwaegen & Sander Ramboer, 2020. "Regional competitiveness and high growth firms in the EU: the creativity premium," Applied Economics, Taylor & Francis Journals, vol. 52(22), pages 2325-2338, May.
    • Handle: RePEc:taf:applec:v:52:y:2020:i:22:p:2325-2338
    DOI: 10.1080/00036846.2019.1686454
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    Cited by:

    1. Iván Boal-San Miguel & Luis César Herrero-Prieto, 2020. "Reliability of Creative Composite Indicators with Territorial Specification in the EU," Sustainability, MDPI, vol. 12(8), pages 1-27, April.
    2. Csugány Julianna & Tánczos Tamás, 2020. "Regional Differences in the Conditions of Technological Progress in Europe," Naše gospodarstvo/Our economy, Sciendo, vol. 66(1), pages 1-12, March.
    3. Coad, Alex & Srhoj, Stjepan, 2023. "Entrepreneurial ecosystems and regional persistence of high growth firms: A ‘broken clock’ critique," Research Policy, Elsevier, vol. 52(6).
    4. Cyrine Ben-Hafaïedh & Anaïs Hamelin, 2023. "Questioning the Growth Dogma: A Replication Study," Entrepreneurship Theory and Practice, , vol. 47(2), pages 628-647, March.
    5. Alvedalen, Janna & Carlsson, Bo, 2021. "Scaling up in Entrepreneurial Ecosystems: A comparative study of Entrepreneurial Ecosystems in Life Science," Papers in Innovation Studies 2021/9, Lund University, CIRCLE - Centre for Innovation Research.
    6. Lifan Yang & Jiatian Dong & Weixin Yang, 2024. "Analysis of Regional Competitiveness of China’s Cross-Border E-Commerce," Sustainability, MDPI, vol. 16(3), pages 1-20, January.
    7. Audretsch, David Bruce & Belitski, Maksim & Guerrero, Maribel, 2023. "Sustainable orientation management and institutional quality: Looking into European entrepreneurial innovation ecosystems," Technovation, Elsevier, vol. 124(C).

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