Book Review: Universities and Colleges as Economic Drivers

Abstract

With so much written on the topic of the impact of universities on economic development, one could question the contributions that could result from yet another edited volume on this topic. Despite the crowded literature, this book is a valuable contribution of well-written chapters on specific topics that connect together to form a coherent volume. Although Universities and Colleges as Economic Drivers is the product of a 2011 SUNY conference, the book speaks to issues of national concern of interest to higher education professionals, economic development practitioners, state policy makers, and those interested in the relationship between universities and economic development. Following a foreword byNancy Zimpher, chancellor of the State University of New York, the book has 10 chapters that address particular aspects of the relationship between higher education and economic development. A dominant theme of the book is the challenge in measuring the myriad ways universities contribute to economic growth and development, as almost eve1y chapter concludes with a call for better measures andmore data to clarity this relationship. The first chapter by Lane shows that there is growing international recognition that universities are important to economic growth in developed innovation-based economies but that much more work is needed to measure the economic development contributions of universities. The chapter shows that many universities now place economic development as a central element of their institutional mission. This chapter is followed by a contribution by Gais and Wright that provides a good summary of the various ways that universities contribute to economic development. Such ways include the role of universities as spender and consumer, the contribution universities make to human capital development, research and development (R&D) and entrepreneurship, business assistance such as through providing business services and student workers, and supporting community vitality. The chapter does miss the important role that universities make in providing leadership to regional economic development activities and perhaps being the catalyst for changing regional economic development trajectories.