Volatility and firm growth

Alberto Chong, Mark Gradstein

Research output: Contribution to journalArticlepeer-review

26 Scopus citations


A growing body of macroeconomic evidence suggests that volatility is detrimental for economic growth. The channel through which this materializes, however, is less clear. Moreover, substantive evidence based on disaggregate data is scarce. In this paper, we provide empirical support for this relationship using a detailed cross-country firm-level dataset. We also provide additional evidence that institutional obstacles magnify the adverse effect of perceived volatility on firm growth.

Original languageEnglish
Pages (from-to)1-25
Number of pages25
JournalJournal of Economic Growth
Issue number1
StatePublished - 2 Mar 2009


  • Firm growth
  • Institutions
  • Policy volatility

ASJC Scopus subject areas

  • Economics and Econometrics


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