How universities boost economic growth

Anna Valero and John van Reenen

CentrePiece - The magazine for economic performance from Centre for Economic Performance, LSE

Abstract: The expansion of higher education has helped to fuel economic growth around the world, according to research by Anna Valero and John Van Reenen. Analysing data on 15,000 universities in 78 countries for the period since 1950, they find that there is a strong positive impact of university expansion on regional economic growth. Doubling the number of universities in a region raises future GDP per capita by 4%. Focusing on the immediate challenges for the UK, they note that the benefits of university expansion far outweigh the costs, but Brexit poses significant risks. Until now, UK universities have thrived in a climate of openness to international students, academics and collaboration.

Keywords: universities; growth; human capital; innovation (search for similar items in EconPapers)
JEL-codes: I23 I25 J24 O10 O31 (search for similar items in EconPapers)
Date: 2016-12
New Economics Papers: this item is included in nep-edu, nep-his and nep-knm
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Persistent link: https://EconPapers.repec.org/RePEc:cep:cepcnp:488

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