Du, Jun and Vanino, Enrico (2021). Agglomeration Externalities of Fast-growth Firms. Regional studies, 55 (2), pp. 167-181.
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.
Publication DOI: | https://doi.org/10.1080/00343404.2020.1760234 |
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Divisions: | College of Business and Social Sciences > Aston Business School > Centre for Personal Financial Wellbeing College of Business and Social Sciences > Aston Business School > Economics, Finance & Entrepreneurship College of Business and Social Sciences > Aston Business School |
Additional Information: | © 2020 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Funding: The study was funded by the UK Economic and Social Research Council (ESRC) [grant number ES/R010129/ 5]; the Department for Business, Energy & Industrial Strategy; Innovate UK; and the British Business Bank through the UK Enterprise Research Centre (ERC). |
Uncontrolled Keywords: | agglomeration,externalities,fast growth,firm heterogeneity,spillovers,General Environmental Science,General Social Sciences |
Publication ISSN: | 1360-0591 |
Last Modified: | 01 Nov 2024 08:16 |
Date Deposited: | 02 Jul 2020 08:42 |
Full Text Link: | |
Related URLs: |
https://www.tan ... 04.2020.1760234
(Publisher URL) http://www.scop ... tnerID=8YFLogxK (Scopus URL) |
PURE Output Type: | Article |
Published Date: | 2021-02 |
Published Online Date: | 2020-06-26 |
Accepted Date: | 2020-05-01 |
Authors: |
Du, Jun
(
0000-0002-0449-4437)
Vanino, Enrico |