Universities have traditionally played a dual role inthe nation's innovation system. On the one hand, they enhance the stocks ofknowledge and human capital through research and teaching. On the other hand,universities indirectly contribute to innovation in industry and economicgrowth.In the past...

Universities can have the largest impact on regional economic growth by excelling in advanced research and by augmenting the region's stock of human capital.The combination of growth in the stocks of knowledge and human capital offer increasing returns in the region's knowledge production system...