By Shahid Yusuf, Kaoru Nabeshima
With the competitiveness of organizations in an open and built-in international surroundings more and more reliant on technological power, universities are being requested to tackle a starting to be function in stimulating monetary progress. past presenting schooling, they're now seen as resources of industrially precious technical abilities, concepts, and entrepreneurship. built and constructing international locations alike have made it a concern to gain this power of universities to spur development, a method that demands coordinated coverage activities. the prestigious individuals to 'How Universities advertise financial progress' examines the wealth of foreign event on efforts to multiply hyperlinks among universities and companies. they give worthwhile and succinct information on probably the most potent coverage measures deployed by way of nationwide and local governments, enterprises and universities to reinforce the contribution that tertiary associations could make to fiscal switch.
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Additional resources for How Universities Promote Economic Growth (Directions in Development)
As noted by Cohen and Levinthal (1990) and several contributors to this volume, the absorptive capacity of the ﬁrm—its cognitive preparedness to search for, perceive, and exploit research ﬁndings—is essential to the germination of advantageous links (chapter 3 by Foray; Boschma 2005). MNCs banking on innovation to sustain competitiveness have the information, the ﬁnances, the organizational capacity to manage a multifaceted research program, and the commitment to routinized innovation that can induce technology links with universities.
As distances and market barriers shrink, the number of actual and potential competitors has increased manifold. With so many low-wage countries now entering the market and with codiﬁed industrial technologies facilitating entry, innovation is frequently the only survival strategy for ﬁrms in middle- and higher-income countries (Berger 2005). Although the increased need for innovation has created strong incentives for investment in R&D by the business sector and investment expenditures have climbed steadily, at least in absolute terms, ﬁrms are coming to terms with three concerns.
As chapters 4, 10, and 14 by Hughes, Mowery, and Garnsey, respectively, spell out, universities contribute relatively little to patenting, licensing, and spinoffs, except in the life sciences. Most ﬁrms still attach more importance to informal contacts with universities that relate to the recruitment of graduates, internships, and consulting. And in the United States, ﬁrms are having 12 See also the paper in Etzkowitz and Leydesdorff (1997). 8 How Universities Promote Economic Growth difﬁculty with the aggressive behavior of some universities regarding the sharing of property rights and licensing.