University–industry collaboration and regional wealth

Substantial research has been conducted towards understanding why and how universities shape regional wealth and competitiveness. In this paper we extend this literature to examine empirically causal relationships between university-induced knowledge spillovers and regional wealth using a hand collected panel data set from 1998 to 2012. Literature has identified three possible effects of causality, namely that a university exogenously fosters and spurs regional wealth, second that universities are endogenously shaped by regional wealth and finally that regional wealth and universities follow an interlinked and co-evolutionary path. Our findings support the latter direction in that universities and their regional endowment are linked together.

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