IDEAS home Printed from https://ideas.repec.org/p/uto/labeco/201203.html
   My bibliography  Save this paper

Academic knowledge and economic growth: are scientific fields all alike

Author

Listed:

Abstract

The aim of the paper is to contribute the debate on the accountability of the academic system. To this it grafts the recent advances of the economics of knowledge into the economics of the academic system. The paper elaborates and tests the hypothesis that there are different types of academic knowledge that exert different effects on economic growth. The recent advances of the economics of knowledge enable to appreciate the differences among types of academic knowledge in terms of appropriability, fungibility and cumulability, field of application and with respect to the specificities of the generation process. Building upon these bases, distinctions can be made between knowledge in hard sciences, social sciences, humanities and medical sciences. The hypotheses are tested on OECD data about the numbers of university graduated students in the years 1998-2008 in 16 countries with a simple production function. The results stress the differences in the output elasticity of each discipline and confirm their wide differences in the capability to contribute economic output. The policy implications are important: public support to the academic system, advocated to support economic growth, should not be spread uniformly across academic disciplines but rather focus the academic fields that are better able to contribute economic growth..

Suggested Citation

  • Antonelli Cristiano & Fassio Claudio, 2012. "Academic knowledge and economic growth: are scientific fields all alike," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 201203, University of Turin.
  • Handle: RePEc:uto:labeco:201203
    as

    Download full text from publisher

    File URL: http://www.est.unito.it/do/home.pl/Download?doc=/allegati_wp/wp2012dip_l_b/3_wp_momigliano.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Johnes, Geraint, 1988. "Determinants of research output in economics departments in British universities," Research Policy, Elsevier, vol. 17(3), pages 171-178, June.
    2. C. Antonelli, 2007. "Localized Technological Change," Chapters, in: Horst Hanusch & Andreas Pyka (ed.), Elgar Companion to Neo-Schumpeterian Economics, chapter 16, Edward Elgar Publishing.
    3. Evangelista, Rinaldo & Vezzani, Antonio, 2010. "The economic impact of technological and organizational innovations. A firm-level analysis," Research Policy, Elsevier, vol. 39(10), pages 1253-1263, December.
    4. Etzkowitz, Henry & Leydesdorff, Loet, 2000. "The dynamics of innovation: from National Systems and "Mode 2" to a Triple Helix of university-industry-government relations," Research Policy, Elsevier, vol. 29(2), pages 109-123, February.
    5. Johnes, Geraint & Johnes, Jill, 1993. "Measuring the Research Performance of UK Economics Departments: An Application of Data Envelopment Analysis," Oxford Economic Papers, Oxford University Press, vol. 45(2), pages 332-347, April.
    6. Mohnen, Pierre & Roller, Lars-Hendrik, 2005. "Complementarities in innovation policy," European Economic Review, Elsevier, vol. 49(6), pages 1431-1450, August.
    7. Auranen, Otto & Nieminen, Mika, 2010. "University research funding and publication performance--An international comparison," Research Policy, Elsevier, vol. 39(6), pages 822-834, July.
    8. Feller, Irwin, 1990. "Universities as engines of R&D-based economic growth: They think they can," Research Policy, Elsevier, vol. 19(4), pages 335-348, August.
    9. Milgrom, Paul & Roberts, John, 1995. "Complementarities and fit strategy, structure, and organizational change in manufacturing," Journal of Accounting and Economics, Elsevier, vol. 19(2-3), pages 179-208, April.
    10. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," NBER Chapters, in: Investment in Human Beings, pages 9-49, National Bureau of Economic Research, Inc.
    11. Cristiano Antonelli & Pier Paolo Patrucco & Federica Rossi, 2010. "The Economics of Knowledge Interaction and the Changing Role of Universities," Chapters, in: Faïz Gallouj & Faridah Djellal (ed.), The Handbook of Innovation and Services, chapter 7, Edward Elgar Publishing.
    12. Mansfield, Edwin, 1995. "Academic Research Underlying Industrial Innovations:," The Review of Economics and Statistics, MIT Press, vol. 77(1), pages 55-65, February.
    13. Johnes, Geraint, 1992. "Performance Indicators in Higher Education: A Survey of Recent Work," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 8(2), pages 19-34, Summer.
    14. Rosenberg, Nathan & Nelson, Richard R., 1994. "American universities and technical advance in industry," Research Policy, Elsevier, vol. 23(3), pages 323-348, May.
    15. Mansfield, Edwin, 1991. "Academic research and industrial innovation," Research Policy, Elsevier, vol. 20(1), pages 1-12, February.
    16. Johnes, Geraint, 1997. "Costs and Industrial Structure in Contemporary British Higher Education," Economic Journal, Royal Economic Society, vol. 107(442), pages 727-737, May.
    17. Van Reenen, John, 2011. "Does competition raise productivity through improving management quality?," International Journal of Industrial Organization, Elsevier, vol. 29(3), pages 306-316, May.
    18. Faïz Gallouj & Faridah Djellal (ed.), 2010. "The Handbook of Innovation and Services," Books, Edward Elgar Publishing, number 12872.
    19. Johnes, Geraint, 1990. "Measures of Research Output: University Departments of Economics in the UK, 1984-8," Economic Journal, Royal Economic Society, vol. 100(401), pages 556-560, June.
    20. Thomas Grebel, 2011. "Innovation and Health," Books, Edward Elgar Publishing, number 14375.
    21. Partha Dasgupta & Paul A. David, 1987. "Information Disclosure and the Economics of Science and Technology," Palgrave Macmillan Books, in: George R. Feiwel (ed.), Arrow and the Ascent of Modern Economic Theory, chapter 16, pages 519-542, Palgrave Macmillan.
    22. Eric A. Hanushek & Ludger Woessmann, 2008. "The Role of Cognitive Skills in Economic Development," Journal of Economic Literature, American Economic Association, vol. 46(3), pages 607-668, September.
    23. Crespi, Gustavo A. & Geuna, Aldo, 2008. "An empirical study of scientific production: A cross country analysis, 1981-2002," Research Policy, Elsevier, vol. 37(4), pages 565-579, May.
    24. Adriana Di Liberto & Francesco Pigliaru & Piergiorgio Chelucci, 2011. "International Tfp Dynamics And Human Capital Stocks: A Panel Data Analysis, 1960–2003," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 57(1), pages 156-182, March.
    25. Cave, Martin & Weale, Martin, 1992. "The Assessment: Higher Education: The State of Play," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 8(2), pages 1-18, Summer.
    26. Dominique Foray, 2006. "The Economics of Knowledge," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262562235, April.
    27. Cristiano Antonelli, 2008. "The new economics of the university: a knowledge governance approach," The Journal of Technology Transfer, Springer, vol. 33(1), pages 1-22, February.
    28. Mansfield, Edwin & Lee, Jeong-Yeon, 1996. "The modern university: contributor to industrial innovation and recipient of industrial R&D support," Research Policy, Elsevier, vol. 25(7), pages 1047-1058, October.
    29. Gary S. Becker, 1975. "Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education, Second Edition," NBER Books, National Bureau of Economic Research, Inc, number beck75-1.
    30. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Which academic field contributes most to economic growth?
      by Economic Logician in Economic Logic on 2013-08-02 19:48:00

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alessandra Venturini, Fabio Montobbio and Claudio Fassi, 2012. "Are Migrants Spurring Innovation?," RSCAS Working Papers 2012/11, European University Institute.
    2. Cristiano Antonelli & Nicola Crepax & Claudio Fassio, 2013. "The cliometrics of academic chairs. Scientific knowledge and economic growth: the evidence across the Italian Regions 1900–1959," The Journal of Technology Transfer, Springer, vol. 38(5), pages 537-564, October.
    3. Link, Albert N. & Antonelli, Cristiano, 2015. "Strategic Alliances: An Introductory Framework," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 201511, University of Turin.
    4. Cristiano Antonelli, 2016. "The bumpy ride to the knowledge economy," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 43(3), pages 337-344, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cristiano Antonelli & Nicola Crepax & Claudio Fassio, 2013. "The cliometrics of academic chairs. Scientific knowledge and economic growth: the evidence across the Italian Regions 1900–1959," The Journal of Technology Transfer, Springer, vol. 38(5), pages 537-564, October.
    2. Antonelli, Cristiano & Fassio, Claudio, 2012. "University-industry relations and the evolution of knowledge governance. the italian evidence in the first part of the xx century," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 201212, University of Turin.
    3. Becker Wolfgang & Peters Jürgen, 2005. "Innovation Effects of Science-Related Technological Opportunities / Innovationseffekte von technologischen Möglichkeiten aus dem Wissenschaftsbereich: Theoretical Considerations and Empirical Findings," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 225(2), pages 130-150, April.
    4. Perkmann, Markus & King, Zella & Pavelin, Stephen, 2011. "Engaging excellence? Effects of faculty quality on university engagement with industry," Research Policy, Elsevier, vol. 40(4), pages 539-552, May.
    5. A. Bellucci & L. Pennacchio, 2016. "University knowledge and firm innovation: evidence from European countries," The Journal of Technology Transfer, Springer, vol. 41(4), pages 730-752, August.
    6. 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.
    7. Mario Coccia, 2006. "Economic and social studies of scientific research: nature and origins," CERIS Working Paper 200607, CNR-IRCrES Research Institute on Sustainable Economic Growth - Torino (TO) ITALY - former Institute for Economic Research on Firms and Growth - Moncalieri (TO) ITALY.
    8. Cristiano Antonelli & Pier Paolo Patrucco & Federica Rossi, 2010. "The Economics of Knowledge Interaction and the Changing Role of Universities," Chapters, in: Faïz Gallouj & Faridah Djellal (ed.), The Handbook of Innovation and Services, chapter 7, Edward Elgar Publishing.
    9. Wolfgang Becker, 2003. "Evaluation of the Role of Universities in the Innovation Process," Discussion Paper Series 241, Universitaet Augsburg, Institute for Economics.
    10. Maria Rosaria Carillo & Erasmo Papagni, 2004. "Incentive Structure In Basic Research And Economic Growth," Working Papers 9_2004, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    11. Bronwyn H. Hall & Albert N. Link & John T. Scott, 2003. "Universities as Research Partners," The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 485-491, May.
    12. Martina Kauffeld-Monz, 2005. "Knowledge spillovers within regional networks of innovation and the contribution made by public research," ERSA conference papers ersa05p440, European Regional Science Association.
    13. Isabel Maria Bodas Freitas & Aldo Geuna & Federica Rossi, 2012. "The governance of formal university-industry interactions: Understanding the rationales for alternative models," Post-Print hal-01487508, HAL.
    14. Foray, Dominique & Lissoni, Francesco, 2010. "University Research and Public–Private Interaction," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 275-314, Elsevier.
    15. Carillo, Maria Rosaria & Papagni, Erasmo, 2014. "“Little Science” and “Big Science”: The institution of “Open Science” as a cause of scientific and economic inequalities among countries," Economic Modelling, Elsevier, vol. 43(C), pages 42-56.
    16. Autant-Bernard, Corinne, 2001. "Science and knowledge flows: evidence from the French case," Research Policy, Elsevier, vol. 30(7), pages 1069-1078, August.
    17. Debackere, Koenraad & Veugelers, Reinhilde, 2005. "The role of academic technology transfer organizations in improving industry science links," Research Policy, Elsevier, vol. 34(3), pages 321-342, April.
    18. Maria Rosaria Carillo & Erasmo Papagni, 2004. "Academic Research, Social Interactions And Economic Growth," Working Papers 10_2004, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    19. Isabel Maria Bodas Freitas & Aldo Geuna & Federica Rossi, 2011. "University–Industry Interactions: The Unresolved Puzzle," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 11, Edward Elgar Publishing.
    20. van Beers, Cees & Berghäll, Elina & Poot, Tom, 2008. "R&D internationalization, R&D collaboration and public knowledge institutions in small economies: Evidence from Finland and the Netherlands," Research Policy, Elsevier, vol. 37(2), pages 294-308, March.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uto:labeco:201203. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Piero Cavaleri or Marina Grazioli (email available below). General contact details of provider: https://edirc.repec.org/data/leifrit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.