How to Measure the Local Economic Impact of the Universities’ Third Mission Activities?

Bence Zuti () and Miklós Lukovics

MPRA Paper from University Library of Munich, Germany

Abstract: Nowadays it is more and more important to know that how certain units of regional economy (enterprises, higher education institutions, other units) affect local economy. The economic impact analysis of higher education institutions is more complex than the impact analysis of enterprises, since the complexity of multiple direct and indirect transmissions and effects. The economic effects of higher education institutions (HEIs) are easy to access and easy to systematize using the classification of first, second and third generation universities. The traditional activities of universities have broadened. Beyond the high-quality of education (first generation universities) high- quality research is also necessary (second generation universities), furthermore it is also important that the scientific results should be adapted by the local economy (third generation universities). Generally, there are four substantial problems. First, the definition of impact, second, measuring and estimating first-round expenditures and avoiding double-counting, third, estimating the correct value of the multiplier, fourth, the quantification of third mission activities. The purpose of our study is to reveal the methodology of the quantification of third mission universities regarding the economic impact of universities. We attempt to fully systematize the fundamental challenges of measuring the third mission activities of universities.

Keywords: Urban; rural and regional analysis; innovation and invention; regional economic activity; higher education (search for similar items in EconPapers)
JEL-codes: I23 O18 O31 R11 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published in Conference Proceedings. 5th Central European Conference in Regional Science – CERS, 2014 (2014): pp. 1209-1215

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