The economic impact of licensed commercialized inventions originating in university research
AbstractThe purpose of this article is to estimate quantitatively the contribution that university licensing makes to the national U.S. economy. As regions and nations face increased economic problems, they seek ways to augment opportunities for economic growth and to identify areas where public funding can be cut. It is now well-recognized that the research university can be a significant engine of economic growth and job creation. University research and research-related activities contribute in many important ways to modern economies: notably through increased productivity of applied R&D in industry due to university-developed new knowledge and technical know-how; provision of highly valued human capital embodied in faculty and students; development of equipment and instrumentation used by industry in production and research; and creation of concepts and prototypes for new products and processes, which may have some unexpected and large social and economic impacts. Yet clear documentation of the proportional contributions these make to economic growth remains elusive. This article provides detailed estimates of the economic impact on the U.S. national economy of one core university activity – licensing of university inventions to industry.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Research Policy.
Volume (Year): 42 (2013)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://www.elsevier.com/locate/respol
University research; Economic impact; Technology commercialization;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Salter, Ammon J. & Martin, Ben R., 2001. "The economic benefits of publicly funded basic research: a critical review," Research Policy, Elsevier, vol. 30(3), pages 509-532, March.
- Mansfield, Edwin, 1991. "Academic research and industrial innovation," Research Policy, Elsevier, vol. 20(1), pages 1-12, February.
- Arundel, Anthony & Bordoy, Catalina, 2008. "Developing internationally comparable indicators for the commercialization of publicly-funded research," UNU-MERIT Working Paper Series 075, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
- Rosenberg, Nathan & Nelson, Richard R., 1994. "American universities and technical advance in industry," Research Policy, Elsevier, vol. 23(3), pages 323-348, May.
- Alvin K. Klevorick & Richard C. Levin & Richard R. Nelson & Sidney G. Winter, 1993.
"On the Sources and Significance of Interindustry Differences in Technological Opportunities,"
Cowles Foundation Discussion Papers
1052, Cowles Foundation for Research in Economics, Yale University.
- Klevorick, Alvin K. & Levin, Richard C. & Nelson, Richard R. & Winter, Sidney G., 1995. "On the sources and significance of interindustry differences in technological opportunities," Research Policy, Elsevier, vol. 24(2), pages 185-205, March.
- Jerry G. Thursby & Marie C. Thursby, 2007. "University licensing," Oxford Review of Economic Policy, Oxford University Press, vol. 23(4), pages 620-639, Winter.
- Mansfield, Edwin, 1998. "Academic research and industrial innovation: An update of empirical findings1," Research Policy, Elsevier, vol. 26(7-8), pages 773-776, April.
- Vincett, P.S., 2010. "The economic impacts of academic spin-off companies, and their implications for public policy," Research Policy, Elsevier, vol. 39(6), pages 736-747, July.
- Mowery, David C. & Nelson, Richard R. & Sampat, Bhaven N. & Ziedonis, Arvids A., 2001. "The growth of patenting and licensing by U.S. universities: an assessment of the effects of the Bayh-Dole act of 1980," Research Policy, Elsevier, vol. 30(1), pages 99-119, January.
- Nelson, Richard R, 1986. "Institutions Supporting Technical Advance in Industry," American Economic Review, American Economic Association, vol. 76(2), pages 186-89, May.
- Feller, Irwin & Ailes, Catherine P. & Roessner, J. David, 2002. "Impacts of research universities on technological innovation in industry: evidence from engineering research centers," Research Policy, Elsevier, vol. 31(3), pages 457-474, March.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.