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

  • Leyden, Dennis

    ()

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

  • Link, Albert N.

    ()

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

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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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
Contact details of provider: Postal: Box 26165, Greensboro, NC 27402-6165
Phone: (336) 334-5463
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Web page: http://www.uncg.edu/bae/econ/

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  1. Zoltan Acs & Pontus Braunerhjelm & David Audretsch & Bo Carlsson, 2009. "The knowledge spillover theory of entrepreneurship," Small Business Economics, Springer, vol. 32(1), pages 15-30, January.
  2. Bronwyn H. HALL, 2004. "University-Industry Research Partnerships in the United States," Economics Working Papers ECO2004/14, European University Institute.
  3. 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.
  4. Henderson, R. & Jaffe, A.B.: Tratenberg, M., 1995. "Universities as a Source of Commercial Technology: A Detailed Analysis of University Patenting 1965-1988," Papers 09-95, Tel Aviv.
  5. Henry R. Hertzfeld & Albert N. Link & Nicholas S. Vonortas, 2004. "Intellectual Property Protection Mechanisms in Research Partnerships," Papers on Entrepreneurship, Growth and Public Policy 2004-43, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  6. Hall, Bronwyn & Link, Albert & Scott, John, 2010. "Universities as Research Partners," Working Papers 10-9, University of North Carolina at Greensboro, Department of Economics.
  7. Philippe Aghion & Peter Howitt, 1990. "A Model of Growth Through Creative Destruction," NBER Working Papers 3223, National Bureau of Economic Research, Inc.
  8. 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.
  9. Lynne G. Zucker & Michael R. Darby & Jeff Armstrong, 1994. "Intellectual Capital and the Firm: The Technology of Geographically Localized Knowledge Spillovers," NBER Working Papers 4946, National Bureau of Economic Research, Inc.
  10. 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.
  11. Mansfield, Edwin, 1992. "Academic research and industrial innovation: A further note," Research Policy, Elsevier, vol. 21(3), pages 295-296, June.
  12. 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.
  13. 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.
  14. Claudio Michelacci, 2003. "Low Returns in R&D Due to the Lack of Entrepreneurial Skills," Economic Journal, Royal Economic Society, vol. 113(484), pages 207-225, January.
  15. David Thesmar & Mathias Thoenig, 2000. "Creative Destruction And Firm Organization Choice," The Quarterly Journal of Economics, MIT Press, vol. 115(4), pages 1201-1237, November.
  16. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  17. Albert N. Link & John T. Scott, 2007. "The economics of university research parks," Oxford Review of Economic Policy, Oxford University Press, vol. 23(4), pages 661-674, Winter.
  18. Michelle Alexopoulos, 2010. "Read All About it!! What happens following a technology shock?," Working Papers tecipa-391, University of Toronto, Department of Economics.
  19. 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.
  20. Wyckoff, Paul Gary, 1990. " The Simple Analytics of Slack-Maximizing Bureaucracy," Public Choice, Springer, vol. 67(1), pages 35-47, October.
  21. Gregory Tassey, 2008. "Globalization of technology-based growth: the policy imperative," The Journal of Technology Transfer, Springer, vol. 33(6), pages 560-578, December.
  22. Mansfield, Edwin, 1991. "Academic research and industrial innovation," Research Policy, Elsevier, vol. 20(1), pages 1-12, February.
  23. Adams, James D, 1990. "Fundamental Stocks of Knowledge and Productivity Growth," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 673-702, August.
  24. Pontus Braunerhjelm & Zoltan Acs & David Audretsch & Bo Carlsson, 2010. "The missing link: knowledge diffusion and entrepreneurship in endogenous growth," Small Business Economics, Springer, vol. 34(2), pages 105-125, February.
  25. Morales, Mar a F., 2003. "Financial Intermediation In A Model Of Growth Through Creative Destruction," Macroeconomic Dynamics, Cambridge University Press, vol. 7(03), pages 363-393, June.
  26. repec:cup:cbooks:9780521071727 is not listed on IDEAS
  27. 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.
  28. Lee, Yong S, 2000. " The Sustainability of University-Industry Research Collaboration: An Empirical Assessment," The Journal of Technology Transfer, Springer, vol. 25(2), pages 111-33, June.
  29. 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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