Academic Enterprise and Regional Economic Growth Towards an Enterprising University

Monday, March 30, 2020

The Role of Universities and Economic Development

In this paper, we investigate the attempt by a large, post-1992 UK university to influence regional economic development by becoming a more enterprising institution. The pivotal role that universities play in the knowledge economy results from the changing economic and political environment (O’Shea et al,2004; Slaughter and Leslie, 1997). Increasing globalization and the emergence of a knowledge-based economy, together with the growing significance of innovative city-regions, are the main drivers in the transformation of UK universities (Hagen, 2002; Sizer, 2001). Policy makers now see universities as key players in delivering economic growth: this is evident from the range of government initiatives that have been proposed and/or subsequently introduced (DfES, 2003; DTI, 1998, 2000; HMT et al, 2004; Lambert, 2003; Leitch, 2006). Similar developments are apparent in both developed and developing countries (Ahola, 2005; Gomes et al, 2005; Jacob et al, 2003; Van Vught, 1999; Zhao, 2004). Governments around the world now see universities as key players in developing innovation systems and, thereby, contributing to economic growth (Bercovitz and Feldman, 2006; Etzkowitz et al, 2000) (Read more…).

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