Contribution of universities to economic and innovative development of the United States

Natalia Andreevna Sudakova
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Natalia Andreevna Sudakova: Institute for the U.S. and Canadian Studies, Moscow, Russian Federation

Russian Foreign Economic Journal, 2018, issue 6, 123-134

Abstract: The article analyzes the modern approaches to quantitative and quality assessment of a contribution of the research universities to the national U.S. economy. The typology of economically significant outputs of the research universities among which a key indicator of the involvement of the universities into economy is their participation in technology transfer is presented. On the basis of the analysis of factors leading to convergence of mutual interests between universities and business, the author makes a conclusion that economic development is necessary for the universities, first of all, for the performance of their main mission - creation of new knowledge as well as the main social function - creation of human capital. Despite difficulties with quantitative assessment of an economic contribution of university research and research-related activities, the importance and need for fostering academic research and technology transfer to ensure social and economic development of the country is widely accepted.

Keywords: USA; universities; university research; economic development; economic impact; technology transfer; invention licensing; technology commercialization (search for similar items in EconPapers)
Date: 2018
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