Local, state, and national economies are facing unprecedented levels of international competition. The current fiscal crisis has hampered the ability of many governments in the developed world to directly facilitate economic growth. At the same time, many governments in the developing world are investing significant new resources into local infrastructure and industry development initiatives. At the heart of the current economic transformation lie our colleges and universities. Through their roles in education, innovation, knowledge transfer, and community engagement, these institutions are working toward spurring economic growth and prosperity. This book brings together leading scholars from a variety of disciplines to assess how universities and colleges exert impact on economic growth. The contributors consider various methodologies, metrics, and data sources that may be used to gauge the performance of diverse higher education institutions in improving economic outcomes in the United States and around the world. Also presented are new typologies of economic development activities and related state policies that are designed to improve understanding of such initiatives and generate new energy and focus for an international community of scholars and practitioners working to formulate new models for how public universities and colleges may lead economic development in their states and communities while still performing their traditional educational functions. Universities and Colleges as Economic Drivers is meant to cultivate greater understanding among elected officials, business representatives, policymakers, and other concerned parties about the central roles universities and colleges play in national, state, and local economies.

This book describes patterns of behavior that collectively allow universities to exchange knowledge more effectively with industry, accelerate innovation and eventually contribute to economic development. These are based on the effective practices of leading and ambitious universities around the world that the authors have benchmarked, and the personal experiences of the authors in a number of international institution building projects, including those of MIT. The authors provide guidance that is globally applicable, but must be locally adapted. The approach is first to describe the context in which universities act as engines of economic development, and then present a set of effective practices in four domains: education, research, innovation, and supporting practices. Each of these domains has three to six practices, and each practice is presented in a similar template, with an abstract, a rationale and description, key actions and one or two mini-case studies. The practices are summarized by integrative case studies. The book: Focuses on a globally adaptable set of effective practices, complemented by case studies, that can enhance universities’ contribution to economic development, based on an integrated view of education, research and innovation; Presents effective practices and broader insights that come from real global experience, spelled out in templates and explained by cases; Includes tangible resources for university leaders, policy makers and funders on how to proceed.

With the competitiveness of firms in an open and integrated world environment increasingly reliant on technological capability, universities are being asked to take on a growing role in stimulating economic growth. Beyond imparting education, they are now viewed as sources of industrially valuable technical skills, innovations, and entrepreneurship. Developed and developing countries alike have made it a priority to realize this potential of universities to spur growth, a strategy that calls for coordinated policy actions.

Today, universities around the world find themselves going beyond the traditional roles of research and teaching to drive the development of local economies through collaborations with industry. At a time when regions with universities are seeking best practices among their peers, Shiri M. Breznitz argues against the notion that one university's successful technology transfer model can be easily transported to another. Rather, the impact that a university can have on its local economy must be understood in terms of its idiosyncratic internal mechanisms, as well as the state and regional markets within which it operates. To illustrate her argument, Breznitz undertakes a comparative analysis of two universities, Yale and Cambridge, and the different outcomes of their attempts at technology commercialization in biotech. By contrasting these two universities—their unique policies, organizational structure, institutional culture, and location within distinct national polities—she makes a powerful case for the idea that technology transfer is dependent on highly variable historical and environmental factors. Breznitz highlights key features to weigh and engage in developing future university and economic development policies that are tailor-made for their contexts.

This open access book is unique in its contents. No other title in the book market has tackled this important subject. It introduces innovation as a way of practice for world-class universities. It, then, discusses the criteria for being innovative in the academic world. The book selects some of the top innovative world-class universities to study the factors that qualified them to be innovative, so that any other university can follow their steps to become innovative. The final chapter of the book presents some recommendations in this regard.

"Academic science in the U.S. once self-consciously avoided the market. But today it is seen as an economic engine that keeps the nation globally competitive. Creating the Market University compares the origins of biotech entrepreneurship, university patenting, and university-industry research centers to show how government decisions shaped by a new argument--that innovation drives the economy-transformed academic science"-- Provided by publisher.

Public Universities and Regional Growth examines evolutions in research and innovation at six University of California campuses. Each chapter presents a deep, historical analysis that traces the dynamic interaction between particular campuses and regional firms in industries that range from biotechnology, scientific instruments, and semiconductors, to software, wine, and wireless technologies. The book provides a uniquely comprehensive and cohesive look at the University of California's complex relationships with regional entrepreneurs. As a leading public institution, the UC is an examplar for other institutions of higher education at a time when the potential and value of these universities is under scrutiny. Any yet, by recent accounts, public research universities performed nearly 70% of all academic research and approximately 60% of federally funded R&D in the United States. Thoughtful and distinctive, Public Universities and Regional Growth illustrates the potential for universities to drive knowledge-based growth while revealing the California system as a uniquely powerful engine for innovation across its home state.

In a knowledge-based economy, universities are vital institutions. This volume explores the roles that universities can play in peripheral regions, contributing to processes of regional economic development and innovative growth. Including a series of case studies drawn from Portugal, Norway, Finland, the Czech Republic, Estonia and the Dutch-German border region, this will be the first book to offer a comprehensive comparative overview of universities in European economically peripheral regions. These studies seek to explore the tensions that arise in peripheral regions where there may not be obvious matches between university activities and regional strengths. Aimed at academics, policy-makers and practitioners working on regional innovation strategies, this volume brings a much-needed sense of realism and ambition for all those concerned with building successful regional societies at the periphery of the knowledge economy.

This book provides a careful historical analysis of the co-evolution of educational attainment and the wage structure in the United States through the twentieth century. The authors propose that the twentieth century was not only the American Century but also the Human Capital Century. That is, the American educational system is what made America the richest nation in the world. Its educational system had always been less elite than that of most European nations. By 1900 the U.S. had begun to educate its masses at the secondary level, not just in the primary schools that had remarkable success in the nineteenth century. The book argues that technological change, education, and inequality have been involved in a kind of race. During the first eight decades of the twentieth century, the increase of educated workers was higher than the demand for them. This had the effect of boosting income for most people and lowering inequality. However, the reverse has been true since about 1980. This educational slowdown was accompanied by rising inequality. The authors discuss the complex reasons for this, and what might be done to ameliorate it.

This book examines the experience of 11 universities in nine countries around the world that have grappled with the challenge of building successful research institutions in difficult circumstances and outlines key lessons of from this experience.