Empresas de crecimiento acelerado y productividad: Evidencia microeconómica para Chile

There is abundant evidence about the sizable contribution of high-growth firms —known as "gazelles" in the literature—, to employment and aggregate activity. However, there is still a knowledge gap regarding their contribution to productivity growth. This article studies the subject using administrative information for the universe of Chilean formal firms for the period from 2005 to 2015. It concludes that high- growth firms account for a disproportionate share of job creation and aggregate productivity growth in the Chilean economy. Based on these findings, the article argues that production development policies, rather than using size criteria, should focus on creating conditions for the emergence of a greater number of high-growth firms.