| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15299 |
| 来源ID | Working Paper 15299 |
| Do Universities Generate Agglomeration Spillovers? Evidence from Endowment Value Shocks | |
| Shawn Kantor; Alexander Whalley | |
| 发表日期 | 2009-08-27 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | In this paper we quantify the extent and magnitude of agglomeration spillovers from a formal institution whose sole mission is the creation and dissemination of knowledge -- the research university. We use the fact that universities follow a fixed endowment spending policy based on the market value of their endowments to identify the causal effect of the density of university activity on labor income in the non-education sector in large urban counties. Our instrument for university expenditures is based on the interaction between each university's initial endowment level at the start of the study period and the variation in stock market shocks over the course of the study period. We find modest but statistically significant spillover effects of university activity. The estimates indicate that a 10% increase in higher education spending increases local non-education sector labor income by about 0.5%. As the implied elasticity is no larger than what previous work finds for agglomeration spillovers arising from local economic activity in general, university activity does not appear to make a place any more productive than other forms of economic activity. We do find, however, that the magnitude of the spillover is significantly larger for firms that are technologically closer to universities in terms of citing patents generated by universities in their own patents and sharing a labor market with higher education. |
| 主题 | Health, Education, and Welfare ; Education ; Development and Growth ; Innovation and R& ; D ; Regional and Urban Economics ; Regional Economics |
| URL | https://www.nber.org/papers/w15299 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572974 |
| 推荐引用方式 GB/T 7714 | Shawn Kantor,Alexander Whalley. Do Universities Generate Agglomeration Spillovers? Evidence from Endowment Value Shocks. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15299.pdf（692KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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