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University Innovation and Local Economic Growth

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  • Naomi Hausman

Abstract

This paper identifies the extent to which knowledge from U.S. universities drives industry agglomeration. Establishment-level data indicate faster growth in employment, wages, and corporate innovation after the 1980 Bayh-Dole Act's shock to the spread of innovation from universities in industries more closely related to the nearby university's innovative strengths. Federal research funding amplified the effect. University knowledge spillovers strengthen with geographic proximity, density, and local skills. Consistent with spatial equilibrium models, the growth effect is driven by nearby entry in university-linked industries, especially of multiunit expansions; these firms disproportionately partner with universities in RD, transfer IP, and innovate.

Suggested Citation

  • Naomi Hausman, 2022. "University Innovation and Local Economic Growth," The Review of Economics and Statistics, MIT Press, vol. 104(4), pages 718-735, October.
    • Handle: RePEc:tpr:restat:v:104:y:2022:i:4:p:718-735
    DOI: 10.1162/rest_a_01027
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    Cited by:

    1. Jorge Guzman & Fiona Murray & Scott Stern & Heidi Williams, 2024. "Accelerating Innovation Ecosystems: The Promise and Challenges of Regional Innovation Engines," Entrepreneurship and Innovation Policy and the Economy, University of Chicago Press, vol. 3(1), pages 9-75.
    2. Anna Stansbury & Dan Turner & Ed Balls, 2023. "Tackling the UK’s regional economic inequality: binding constraints and avenues for policy intervention," Contemporary Social Science, Taylor & Francis Journals, vol. 18(3-4), pages 318-356, August.
    3. Sarah C. Armitage & Noël Bakhtian & Adam B. Jaffe, 2023. "Innovation Market Failures and the Design of New Climate Policy Instruments," NBER Chapters, in: Environmental and Energy Policy and the Economy, volume 5, National Bureau of Economic Research, Inc.
    4. Miguel Leon-Ledesma & Katsuyuki Shibayama, 2023. "(Endogenous) Growth Slowdowns," Studies in Economics 2303, School of Economics, University of Kent.

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