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Universities and the Knowledge Economy

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  • Cowan, Robin

    (MERIT)

Abstract

The simplest rationale for the existence of a publicly funded university is that it provides some form of public good. If all the outputs of a university were privately owned, and privately appropriable, there would be no need for public funding. Either firms would fund the research and training which could be internalized by themselves, or students could fund the teaching through higher future earnings. Consequently, one way to pose the issue of the future role of universities is to ask what public goods they can provide that cannot be provided in other ways.....

Suggested Citation

  • Cowan, Robin, 2005. "Universities and the Knowledge Economy," Research Memorandum 027, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    • Handle: RePEc:unm:umamer:2005027
    as

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    File URL: https://unu-merit.nl/publications/rmpdf/2005/rm2005-027.pdf
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    References listed on IDEAS

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    1. Eric von Hippel, 1986. "Lead Users: A Source of Novel Product Concepts," Management Science, INFORMS, vol. 32(7), pages 791-805, July.
    2. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67(3), pages 297-297.
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    Cited by:

    1. Jesús Peiró-Palomino, 2016. "Social Capital and Economic Growth in Europe: Nonlinear Trends and Heterogeneous Regional Effects," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(5), pages 717-751, October.
    2. Lee, Yoo Hwan & Graff, Gregory D., . "The Production And Dissemination Of Agricultural Knowledge At U.S. Research Universities: The Role And Mission Of Land-Grant Universities," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 40(Special, ).
    3. Larsen, Maria Theresa, 2011. "The implications of academic enterprise for public science: An overview of the empirical evidence," Research Policy, Elsevier, vol. 40(1), pages 6-19, February.
    4. Akçomak, I. Semih & ter Weel, Bas, 2009. "Social capital, innovation and growth: Evidence from Europe," European Economic Review, Elsevier, vol. 53(5), pages 544-567, July.
    5. Havas, Attila, 2014. "Types of knowledge and diversity of business-academia collaborations: Implications for measurement and policy," MPRA Paper 65908, University Library of Munich, Germany, revised 23 May 2015.

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