tailieunhanh - The economic contribution of high-growth firms: Do definitions matter?

In recent years there has been growing attention to the potential economic benefits of improvements in population health. This is far from new: historically, one of the origins of the public health movement lies in the awareness that the prosperity of nations is partly dependent on the health of their populations. But this awareness has recently received a new stimulus from the publication in 2001 of the report of the WHO Commission on Macroeconomics and Health, which demonstrated that health improvement can be seen as a key strategy for income growth and poverty reduction in low- and middle-income countries (Commission. | The economic contribution of high-growth firms Do definitions matter Sven-Olov Daunfeldtab 1 Niklas Elerta 2 Dan Johansson a The Ratio Institute Sweden. b Dalarna University Sweden. Abstract Prior studies have defined high-growth firms HGFs in terms of sales or employment and analyzed their contribution to employment growth. We define HGFs by employment and sales and add definitions of value added and productivity. We examine the contribution of HGFs to employment growth economic growth productivity growth and sales growth. All HGFs give a disproportionately large positive contribution to economic growth and most also give large positive contributions to growth in employment productivity and sales. Although HGFs of different definitions are usually not the same firms young firms are more likely to be HGFs irrespective of definition. Keywords Gazelles Firm growth High-impact firms JEL-code D24 L25 L26 Corresponding author. The Ratio Institute . Box 3203 SE-103 64 Stockholm Sweden. Tel 46 8 441 59 03 fax 46 8 441 59 29. E-mail addresses S-O. Daunfeldt N. Elert D. Johansson . 1 Tel. 46 8 441 59 11 fax 46 8 441 59 29. 2 Tel. 46 8 441 59 13 fax 46 8 441 59 29. 1 1. Executive summary The bulk of all new jobs has been shown to be created by a small number of high-growth firms henceforth HGFs . However no earlier study has analyzed the contribution of HGFs to economic growth or productivity. Furthermore when their economic contribution is analyzed HGFs have previously without exception been defined using growth in sales or employment as growth indicators. By growth indicator we refer to the variable in terms of which firm growth is defined. No previous study examining the contribution of HGFs has defined HGFs on growth in value added or productivity. The purpose of this paper is to add definitions of HGFs in terms of value added and productivity and analyze how much the different types of HGFs .

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