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Knowledge Spillovers, Collective Entrepreneurship, & Economic Growth: The Role of Universities

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  • Leyden, Dennis

    ()
    (University of North Carolina at Greensboro, Department of Economics)

  • Link, Albert N.

    ()
    (University of North Carolina at Greensboro, Department of Economics)

Abstract

This paper develops a formal context for understanding the role that universities play in facilitating the transmission of knowledge to private-sector firms so as to generate economic growth. To the degree the university seeks to act as a complement to private-sector firm-with-firm collaborative R&D, it needs to structure its programs so that firm revenues increase and firm R&D costs, if they rise at all (and a fall would be better), rise by a smaller proportion than revenues increase. Such a structure is consistent with university interests but requires that the university be subsidized. In the absence of such support, it is unlikely that the university will have much success. The university will have to cover its costs through a fee charged to participating firms, and that will result in university being seen as a substitute rather than a complement to firm-with-firm collaborative R&D. However, while there may be good reasons why such subsidization is rational from an efficiency perspective, such arguments, as current governmental fiscal pressures in the US and other countries reveal, may not be persuasive with legislatures. Hence, there is a fundamental policy tension.

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File URL: http://bae.uncg.edu/assets/research/econwp/2012/12-08.pdf
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Bibliographic Info

Paper provided by University of North Carolina at Greensboro, Department of Economics in its series Working Papers with number 12-8.

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Length: 39 pages
Date of creation: 07 Jun 2012
Date of revision:
Handle: RePEc:ris:uncgec:2012_008

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Postal: Box 26165, Greensboro, NC 27402-6165
Phone: (336) 334-5463
Fax: (336) 334-4089
Web page: http://www.uncg.edu/bae/econ/
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Keywords: Collective entrepreneurship; Knowledge spillovers; University collaboration;

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  1. Barry Bozeman & John Hardin & Albert Link, 2008. "Barriers To The Diffusion Of Nanotechnology," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 17(7-8), pages 749-761.
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  3. Cohen, Linda, 1994. "When Can Government Subsidize Research Joint Ventures? Politics, Economics, and Limits to Technology Policy," American Economic Review, American Economic Association, vol. 84(2), pages 159-63, May.
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  12. Michelle Alexopoulos, 2010. "Read All About it!! What happens following a technology shock?," Working Papers tecipa-391, University of Toronto, Department of Economics.
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  14. Mansfield, Edwin, 1992. "Academic research and industrial innovation: A further note," Research Policy, Elsevier, vol. 21(3), pages 295-296, June.
  15. Hertzfeld, Henry R. & Link, Albert N. & Vonortas, Nicholas S., 2006. "Intellectual property protection mechanisms in research partnerships," Research Policy, Elsevier, vol. 35(6), pages 825-838, July.
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  19. Audretsch, David B. & Lehmann, Erik E., 2005. "Does the Knowledge Spillover Theory of Entrepreneurship hold for regions?," Research Policy, Elsevier, vol. 34(8), pages 1191-1202, October.
  20. Link, Albert N. & Scott, John T., 2005. "Universities as partners in U.S. research joint ventures," Research Policy, Elsevier, vol. 34(3), pages 385-393, April.
  21. Lynne G. Zucker & Michael R. Darby & Jeff Armstrong, 1999. "Intellectual Capital and the Firm: The Technology of Geographically Localized Knowledge Spillovers," NBER Working Papers 4946, National Bureau of Economic Research, Inc.
  22. Donald Siegel & David Waldman & Albert Link, 1999. "Assessing the Impact of Organizational Practices on the Productivity of University Technology Transfer Offices: An Exploratory Study," NBER Working Papers 7256, National Bureau of Economic Research, Inc.
  23. Breton,Albert & Wintrobe,Ronald, 2008. "The Logic of Bureaucratic Conduct," Cambridge Books, Cambridge University Press, number 9780521071727, October.
  24. Stephen Layson & Dennis Leyden & John Neufeld, 2008. "To Admit Or Not To Admit: The Question Of Research Park Size," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 17(7-8), pages 689-697.
  25. Coates, Dennis & Humphreys, Brad R, 2002. " The Supply of University Enrollments: University Administrators as Utility Maximizing Bureaucrats," Public Choice, Springer, vol. 110(3-4), pages 365-92, March.
  26. Leyden, Dennis Patrick & Link, Albert N., 1999. "Federal laboratories as research partners," International Journal of Industrial Organization, Elsevier, vol. 17(4), pages 575-592, May.
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