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Regional Economics: Theory and Practice
 

Study of the influence of universities on regional economic development

Vol. 12, Iss. 42, NOVEMBER 2014

Available online: 3 November 2014

Subject Heading: Economy and management

JEL Classification: 

Pages: 12-20

Kamenskikh M.A. Perm National Research Polytechnic University, Ust-Kathka, Perm Region, Perm Krai, Russian Federation
permmak13@gmail.com

The article covers the actual and complex issue of the impact of universities on regional development. Currently, universities play an important role in the region, providing not only the traditional educational services but the innovative ones as well: knowledge generation, technology transfer, commercialization of innovation, etc. The trend is particularly pronounced in the developed economies while transiting to the path of knowledge. Thus, the role of information and knowledge in the economic development and competitiveness increases, not only at the national and global levels, but at the regional level as well. In addition, the significance of universities has increased with the increase of interaction with industry, Government, venture capital funds and other institutions of regional economic and innovation system. The purpose of this communication is to create and commercialize innovation through joint research and development and financing, including from the authorities side. The article reflects the core functions of universities realized throughout the region, as well as the results of their activities, the way they interact and communicate with other institutions on regional development, economic and innovative systems of the region. The author analyses the main works on the role of universities as well as their interaction with other institutions in the framework of regional economic and innovation systems. The author identifies the main characteristics of the regional system, in which the successful interaction of universities and businesses in order to generate new knowledge and commercialization of innovations can be realized. The author makes certain conclusions about the positive impact of universities on regional economy.

Keywords: university, region, innovation, collaboration, influence, development, competitiveness

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