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The contribution of universities to business innovation

In: Elgar Encyclopedia on the Economics of Knowledge and Innovation

Author

Listed:
  • Federica Rossi

Abstract

Universities play an important and multi-faceted role in the knowledge economy. By producing new knowledge through scientific research and providing advanced and specialized education, they contribute to economic growth and development. Studies that have tried to estimate the impact of university research on economic growth have found a positive effect of investment in public research on productivity growth (Martin, 1998), sometimes larger that the effect of investment in private research (Guellec and van Pottlesberghe, 2002) - though with longer time lags (Adams 1990). Universities also have positive effects on the formation of human capital, leading to higher labour productivity and economic growth (Mankiw et al., 1992).

Suggested Citation

  • Federica Rossi, 2022. "The contribution of universities to business innovation," Chapters, in: Cristiano Antonelli (ed.), Elgar Encyclopedia on the Economics of Knowledge and Innovation, chapter 7, pages 62-70, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19760_7
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