SME World Forum

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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