Understanding Business Dynamism: Drivers and Macroeconomic Implications

商业活力--企业进入、增长和退出的过程--是生产率的关键，因为它将就业和资本从较少的使用转移到更有效率的使用。但是，在包括澳大利亚在内的许多国家，商业活力(以及生产率和生活水平的增长)已经放缓。把握这一现象的原因和经济影响是一项挑战。该项目旨在重塑我们对商业活力及其驱动因素的思考，以及它如何影响经济-从长期生产率增长的来源和企业退出的清理效应，到气候风险如何影响商业活力。提供的经验事实和模型将有助于复兴商业活力的政策设计，为潜在的巨大社会和经济收益奠定基础。

Business dynamism – the process of firm entry, growth and exit – is key for productivity as it moves jobs and capital from less to more efficient uses. But, business dynamism (and with it growth in productivity and living standards) has slowed in many countries, including Australia. Grasping the reasons and economic effects of this is a challenge. This Project aims to reshape our thinking about business dynamism, its drivers, and how it impacts the economy – from sources of long-run productivity growth and the cleansing effect of firm exit, to how climate risks impact business dynamism. The delivered empirical facts and models will aid policy design for reviving business dynamism, underpinning potentially large societal and economic gains.