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The Economic Impact of the University of Virginia: How a Major Research University Affects the Local and State Economies

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Author Info
William Shobe () (University of Virginia)
John L. Knapp () (Center for Economic and Policy Studies)

Additional information is available for the following registered author(s):

Abstract

The University of Virginia, by providing world-class educational opportunities to citizens of the state, has played an important role in the lives of Virginians since its founding in 1819. The University enhances economic opportunity and provides a steady stream of citizens prepared to assume positions of leadership in business and in public service. In carrying out its core missions of education, research, and service, U.Va. has a vital impact on its community, on its region, and on the entire state. A complete picture of the economic impact of the University requires both a close-up lens, for the impact on the local community, and a wide-angle lens, for the impact on the state as a whole. Earlier studies of this sort have concentrated mostly on the local effects of university spending. This study extends the earlier work by adding to the traditional local economic impact analysis an overview of how a large public research university can contribute to the economy of an entire state. In making our case we review the literature on the economic rationale for state support of a major research university with a large component of students from other states and from other nations.

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File URL: http://econ.ccps.virginia.edu/RePEc_docs/uvaimpact.pdf
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Publisher Info
Paper provided by Center for Economic and Policy Studies in its series Reports with number 2007-01.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 88 pages
Date of creation: 22 Jan 2007
Date of revision:
Handle: RePEc:vac:report:rpt07-01

Contact details of provider:
Postal: 400206 Charlottesville VA 22904
Phone: +14349835376
Fax: +14349825524
Email:
Web page: http://www.virginia.edu/ceps/
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For technical questions regarding this item, or to correct its listing, contact: (William M. Shobe).

Related research
Keywords: Virginia university education research;

Find related papers by JEL classification:
I2 - Health, Education, and Welfare - - Education
H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
O3 - Economic Development, Technological Change, and Growth - - Technological Change

References listed on IDEAS
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  1. Michael J. Rizzo, 2005. "The public interest in higher education," Proceedings, Federal Reserve Bank of Cleveland, pages 19-45. [Downloadable!]
  2. Bound, John & Groen, Jeffrey & Kezdi, G.Gabor & Turner, Sarah, 2004. "Trade in university training: cross-state variation in the production and stock of college-educated labor," Journal of Econometrics, Elsevier, vol. 121(1-2), pages 143-173. [Downloadable!] (restricted)
  3. Robert Topel, 2005. "The private and social values of education," Proceedings, Federal Reserve Bank of Cleveland, pages 47-57. [Downloadable!]
  4. Edward L. Glaeser & Albert Saiz, 2003. "The Rise of the Skilled City," NBER Working Papers 10191, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Jaffe, Adam B, 1989. "Real Effects of Academic Research," American Economic Review, American Economic Association, vol. 79(5), pages 957-70, December. [Downloadable!] (restricted)
  6. Glaeser, Edward L & Hedi D. Kallal & Jose A. Scheinkman & Andrei Shleifer, 1992. "Growth in Cities," Journal of Political Economy, University of Chicago Press, vol. 100(6), pages 1126-52, December. [Downloadable!] (restricted)
    Other versions:
    • Edward L. Glaeser & Hedi D. Kallal & Jose A. Scheinkman & Andrei Shleifer, 1991. "Growth in Cities," NBER Working Papers 3787, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. 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. [Downloadable!] (restricted)
    Other versions:
  8. Bania, Neil & Eberts, Randall W & Fogarty, Michael S, 1993. "Universities and the Startup of New Companies: Can We Generalize from Route 128 and Silicon Valley?," The Review of Economics and Statistics, MIT Press, vol. 75(4), pages 761-66, November. [Downloadable!] (restricted)
  9. 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. [Downloadable!] (restricted)
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