Competencies and Institutions Fostering High-Growth Firms examines
high-growth firms, also known as ""Gazelles"", which have become
critical to net job creation and economic growth. It analyzes how
the institutional framework - the ""rules of the game"" - affects
such firms, taking the theory of competence blocs as a point of
departure. The three institutional categories that are key areas
for the promotion of high growth firms include the tax system, the
organization oflabour markets and product market regulations. The
authors characterize institutions as either fostering dynamic
capitalism, by providing a favourable environment for the emergence
of competence blocs and the generation of high growth firms or
leading to ""sclerotic capitalism"" by failing to produce such an
environment. By analyzing high growth firms through the lens of the
theory of competence blocs, Competencies and Institutions Fostering
High-Growth Firms offers a more holistic view of economic growth.
Rapid firm growth is a complex process requiring a number of
complementary competencies. This analysis suggests that the
commercialization of innovations and generation of high growth
firms would be greatly facilitated if more product markets are
contestable and tax structures andlabour market institutions are
adjusted to stimulate the emergence of more effective competence
blocs.
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