The article titled "The Economic Impact of Universities: Evidence from Across the Globe" by Anna Valero and John Van Reenen, published in the Economics of Education Review, explores the relationship between the presence of universities and regional economic growth. Utilising a comprehensive dataset encompassing nearly 15,000 universities across approximately 1,500 regions in 78 countries, the study examines data from 1950 to 2010 to assess how the number of universities influences GDP per capita.
Key Findings:
- Positive Correlation with Economic Growth: The study finds that an increase in the number of universities within a region is positively associated with higher future GDP per capita. Specifically, a 10% increase in universities per capita correlates with a 0.4% rise in future GDP per capita.
- Spillover Effects: The economic benefits of universities extend beyond their immediate regions, positively impacting neighbouring areas within the same country.
- Mechanisms of Impact: The presence of universities contributes to economic growth not merely through direct expenditures but also by enhancing human capital and fostering innovation.
- Influence on Democratic Attitudes: Regions with a historical presence of universities tend to exhibit stronger pro-democratic attitudes, suggesting a broader societal impact.
This research underscores the multifaceted role of
universities in promoting economic development and societal progress,
highlighting their significance beyond education.
https://doi.org/10.1016/j.econedurev.2018.09.001
No comments:
Post a Comment