Public Higher Education and New York State’s Economy

Vogel, Richard M.; Keen, W. Hubert

doi:10.1177/0891242410370681

Cited by 8 publications

(10 citation statements)

References 32 publications

(30 reference statements)

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“…Despite such challenges, there has been some progress. For example, in US several authors have examined and corroborated the impact of public higher education on national and regional economies (Feldman and Desrochers, 2003;Lendel, 2010;Vogel and Keen, 2010). Undoubtedly, the entrepreneurial university generates several direct outcomes from teaching, research, and entrepreneurial activities.…”

Section: Entrepreneurial Universities: Characteristics Missions Andmentioning

confidence: 99%

Economic impact of entrepreneurial universities’ activities: An exploratory study of the United Kingdom

2015

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Throughout economic history, institutions have established the rules that shape human interaction. In this sense, political, socio-cultural, and economic issues respond to particular forces: managed economy or entrepreneurial economy. In the entrepreneurial economy, the dominant production factor is knowledge capital that is the source of competitive advantage, which is complemented by entrepreneurship capital, representing the capacity to engage in and generate entrepreneurial activity. Thus, an entrepreneurial economy generates scenarios in which its members can explore and exploit economic opportunities and knowledge to promote new entrepreneurial phenomena that have not been previously visualised. In this context, the entrepreneurial university serves as a conduit of spillovers contributing to economic and social development through its multiple missions of teaching, research, and entrepreneurial activities. In particular, the outcomes of its missions are associated with the determinants of production functions (e.g. human capital, knowledge capital, social capital, and entrepreneurship capital). All these themes are still considerate potentially in the research agenda in academic entrepreneurship literature. This paper modestly tries to contribute to a better understanding of the economic impact of entrepreneurial universities' teaching, research, and entrepreneurial activities. Taking an endogenous growth perspective, the proposed conceptual model is tested using data collected from 2005-2007 for 147 universities located in 74 Nomenclature of Territorial Units for Statistics-3 (NUTS-3) regions of the United Kingdom. The results of this exploratory analysis show the positive and significant economic impact of teaching, research, and entrepreneurial activities. Interestingly, the higher economic impact of the United Kingdom's entrepreneurial universities (the Russell group) is explained by entrepreneurial spin-offs. However, our control group composed by the rest of the country's universities, the highest economic impact is associated with knowledge transfer (knowledge capital).

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Section: Entrepreneurial Universities: Characteristics Missions Andmentioning

confidence: 99%

Economic impact of entrepreneurial universities’ activities: An exploratory study of the United Kingdom

2015

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“…Colleges and universities have become increasingly viewed by US policy-makers as engines of economic growth and development (Goetz and Rupasingha 2003;Vogel and Keen 2010;Selingo 2016). The conceptual model underlying this view is typically one in which increases in state-level expenditures for higher education are supposed to cause greater levels of human capital in the state's economic system, in turn causing higher productivity, increased earnings, the attraction of new businesses, ripple effects by way of series of positive externalities, and overall increased economic performance (Benhabib and Speigel 1994;Abhijeet and Islamia 2010;Erdem and Tugcu 2012).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Early research on the effects of colleges and universities on local labour markets found evidence that university activities affected both regional employment growth and the percentage of a region's workforce employed as scientists and engineers; but was unable to reject the hypotheses that they had no significant effect on regional income, employment rate, migration rates, or share of employment in high-tech industries (Beeson and Montgomery 1993). Since then, researchers have repeatedly reported finding a significant positive relationship between higher educational attainment and per capita income and employment growth in the United States (Rauch 1993;Goetz and Rupasingha 2003;Gottlieb and Fogarty 2003;Moretti 2004;Vogel and Keen 2010;Baldwin et al 2011;Berger and Fisher 2013).…”

Section: Relationships Between Higher Educational Attainment and Econmentioning

confidence: 99%

State spending for higher education: Does it improve economic performance?

Bowen

Qian

2017

Regional Science Policy & Practice

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Abstract. Increases in regional spending for higher education are conventionally believed to cause increases in economic performance. However, while some empirical evidence directly or indirectly confirms this belief, some research also brings it into question and even contradicts it. This research uses panel Granger causal models to consider not only the conventional belief but also the opposite possibility -that increases in economic performance cause increases in US state spending for higher education. It examines state spending for higher education in relation to educational attainment, per capita income and gross domestic product within the fifty states of the United States for the period 1989-2014. The results show that while increases in the share of a state's population with a bachelor degree Granger causes improved economic performance, in the short term of four years or less the direction of causality goes in the opposite direction from the one conventionally believed. Implications of this reverse causality are discussed from the policy perspective. JEL classification: O

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“…Authors. a. Entrepreneurial university’s factors that influence academic entrepreneurship (Guerrero & Urbano, 2012). b. Entrepreneurial university goals identified by Guerrero and Urbano (2012). c. Determinants of the production functions or regional economic growth under the endogenous growth theories developed by Solow (1956), Romer (1986), Coleman (1988), Lucas (1988), and Audretsch and Keilbach (2004). d. Contributions or impacts of the contemporary universities on the economic growth evidenced by Goldstein and Renault (2004), Bramwell and Wolfe (2008), Vogel and Keen (2010), and Lendel (2010).…”

Section: The Role Of Entrepreneurial Universities In Academic Entrepreneurshipmentioning

confidence: 99%

Entrepreneurial Universities

Urbano

Guerrero

2013

Economic Development Quarterly

260

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In the knowledge economy, academic entrepreneurship occurs at the boundaries of different scientific and professional backgrounds, creating a need for support mechanisms to transcend those limits. The entrepreneurial university is seen as an important catalyst for regional economic and social development, particularly because it generates and exploits knowledge as entrepreneurial opportunities. However, evidence about this phenomenon is fragmented and disorganized. By adopting institutional economics, resource-based view, and endogenous growth approaches, this study provides a better understanding of the socioeconomic impacts of the entrepreneurial university. Using the case study methodology, the study presents the experience of entrepreneurial universities in a European Region (Catalonia, Spain). It describes some practical implications that could stimulate the entrepreneurial activity of universities and thus foster their contribution to the development of the modern knowledge economy.

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Public Higher Education and New York State’s Economy

Cited by 8 publications

References 32 publications

Economic impact of entrepreneurial universities’ activities: An exploratory study of the United Kingdom

Economic impact of entrepreneurial universities’ activities: An exploratory study of the United Kingdom

State spending for higher education: Does it improve economic performance?

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