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Agglomeration externalities of fast-growth firms

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  • Jun Du
  • Enrico Vanino

Abstract

Small groups of fast-growth firms contribute disproportionately to job creation, yet little is known about their broader impact on the economy. This paper provides the first evidence of the agglomeration externalities of fast-growth firms, examining their economic impact on non-fast-growth firms operating within the same region (NUTS-2) and industry (SIC2), and through backward and forward linkages. Using comprehensive firm-level data on UK firms between 1997 and 2013, the analysis shows robust evidence of positive spillovers of fast-growth firms on the labour productivity of non-fast-growth firms in the same industry and region. However, the externalities in relation to the employment growth of non-fast-growth firms are negative, suggesting labour poaching and local competition effects.

Suggested Citation

  • Jun Du & Enrico Vanino, 2021. "Agglomeration externalities of fast-growth firms," Regional Studies, Taylor & Francis Journals, vol. 55(2), pages 167-181, February.
    • Handle: RePEc:taf:regstd:v:55:y:2021:i:2:p:167-181
    DOI: 10.1080/00343404.2020.1760234
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    Cited by:

    1. Becker, Bettina & Roper, Stephen & Vanino, Enrico, 2023. "Assessing innovation spillovers from publicly funded R&D and innovation support: Evidence from the UK," Technovation, Elsevier, vol. 128(C).
    2. Nigel Driffield & Katiuscia Lavoratori & Yama Temouri, 2021. "Inward investment and UK productivity," Working Papers 014, The Productivity Institute.

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