Markets have been in turmoil for much of the year on concerns the global economy is heading for another recession. The suspected culprits are many: the plunging price of commodities and oil, crisis in the Middle East, a slowing China and other emerging countries, and weak prospects for financial markets in general.
Coming less than a decade since the global financial crisis dealt a devastating blow to economies around the world, the current challenges raise the question of how resilient our societies are to such shocks.
In our own research, we pondered a different question: what factors make one region more resilient than another? The answer could help us understand how to make our economies better able to resist the next shock, be it financial, a natural disaster, or something else.
It might be a common assumption that high-growth companies are largely based in Silicon Valley. But Penn State economist Stephan Goetz says that’s not so. In a study of Inc. Magazine’s list of 5,000 high-growth companies, Goetz and colleagues discovered that “these firms are found in many different sectors, not just in the high tech space, and … these companies are found across the United States.”
In this case, “high growth” refers to revenue, which in turn measures the expansion of operation and improvement in efficiency. For more about this study, visit the Penn State News site to read the story by Matt Swayne.