University Innovation and Local Economic Growth

• 成果类型: Article
• 署名作者: Hausman, Naomi
• 署名单位: Hebrew University of Jerusalem
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/rest_a_01027
• 发表日期: 2022-07
• 页码: 718-735
• 关键词: knowledge spillovers; entrepreneurship; PRODUCTIVITY; institutions

摘要

This paper identifies the extent to which knowledge from U.S. universities drives industry agglomeration. Establishment-level data indicate faster growth in employment, wages, and corporate innovation after the 1980 Bayh-Dole Act's shock to the spread of innovation from universities in industries more closely related to the nearby university's innovative strengths. Federal research funding amplified the effect. University knowledge spillovers strengthen with geographic proximity, density, and local skills. Consistent with spatial equilibrium models, the growth effect is driven by nearby entry in university-linked industries, especially of multiunit expansions; these firms disproportionately partner with universities in R&D, transfer IP, and innovate.