The Contribution of Universities to Growth: Empirical Evidence for Italy

New entrepreneurial ventures may represent a viable and effective mechanism to transform academic knowledge into regional economic growth. We test this notion for the Italian provinces between 2001 and 2006. We evaluate three outputs of academic activities: teaching, research and Intellectual Property Rights (IPR) activities management. New ventures may be able to transform the mentioned outputs into improved economic performance. The findings show that the effects of academic outputs on provincial economic growth (all sectors) are appreciable when they are associated with sustained entrepreneurial activities in the province. It suggests that academic inquiry may provide new ventures with valuable commercial opportunities overseen by established companies.

Introspective physicalism as an approach to the science of consciousness

Most ‘theories of consciousness’ are based on vague speculations about the properties of conscious experience. We aim to provide a more solid basis for a science of consciousness. We argue that a theory of consciousness should provide an account of the very processes that allow us to acquire and use information about our own mental states – the processes underlying introspection. This can be achieved through the construction of information processing models that can account for ‘Type-C’ processes. Type-C processes can be specified experimentally by identifying paradigms in which awareness of the stimulus is necessary for an intentional action. The Shallice (1988b) framework is put forward as providing an initial account of Type-C processes, which can relate perceptual consciousness to consciously performed actions. Further, we suggest that this framework may be refined through the investigation of the functions of prefrontal cortex. The formulation of our approach requires us to consider fundamental conceptual and methodological issues associated with consciousness. The most significant of these issues concerns the scientific use of introspective evidence. We outline and justify a conservative methodological approach to the use of introspective evidence, with attention to the difficulties historically associated with its use in psychology

De Jure Determinants of New Firm Formation: How the Pillars of Constitutions Influence Entrepreneurship

This paper provides empirical evidence supporting the view that constitutions may influence the organization of economic activities. Dealing with the issue of the institutional determinants of entrepreneurship, it shows that some of the provisions contained in national constitutions are positively and significantly associated to a standard measure of entrepreneurial dynamics, namely the rate of new business density. Using a novel dataset containing the characteristics of the constitutions enacted in the world and a sample of 115 countries, the paper finds that provisions about the right to conduct/establish a business, the right to strike, consumer protection, protection of trademarks, and education promote higher rates of new firm formation

De jure determinants of new firm formation: how the pillars of constitutions influence entrepreneurship

This paper provides empirical evidence supporting the view that constitutions are the primary and fundamental institutional determinant of entrepreneurship. It shows that some of the provisions contained in national constitutions are positively and significantly associated with a standard measure of entrepreneurial dynamics, namely the rate of new business density. Using for 115 countries a novel dataset containing the characteristics of the constitutions enacted in the world, applying an IV-GMM treatment to deal with the endogeneity of constitutional rules, and controlling for de facto variables, the paper finds that provisions about the right to conduct/establish a business, the right to strike, consumer protection, anti-corruption, and compulsory education promote higher rates of new firm formation. Contrasting results are instead obtained for provisions concerning protection of intellectual property rights

The spatial distribution of innovation: evidence on the role of academic quality for seven European countries

The quality of academic research and research undertaken at public laboratories is an important determinant of successful technology transfer. Corporate innovativeness may benefit considerably from scientific discoveries at universities or public laboratories and from the availability of locally well-trained scientists and graduates. The extent to which quality matters is investigated for 86 European regions in seven countries between 1997 and 2007. We find that regions hosting research departments at the forefront of science produce significantly more inventions and more innovations, whereas the mere presence of R&D personnel in universities has no significant impact. The production of patents in high-technology domains instead does benefit from the presence of R&D personnel in public laboratories. These results complement the existing evidence on the relationship between public research and spatial distribution of innovation

Sailing in all winds: Technological search over the business cycle

Business cycles modify firms’ incentives to innovate and the direction of innovation. By introducing a new measure of patent unconventionality this paper explores the impact of the business cycle on firms’ technological search strategies. We find that during upturns firms generate inventions characterized by a higher level of technological unconventionality. We also find that financially resilient and diversified firms produce more unconventional patents. While patent unconventionality is associated with technological impact and market value, firms extract more value by investing in unconventional inventions in downturns

The contribution of universities to growth: empirical evidence for Italy

New entrepreneurial ventures may represent a viable and effective mechanism to transform academic knowledge into regional economic growth. We test this notion for the Italian provinces between 2001 and 2006. We evaluate three outputs of academic activities: teaching, research and intellectual property rights activities. New ventures may be able to transform the mentioned outputs into improved economic performance. The findings show that the effects of academic outputs on provincial economic growth (all sectors) are appreciable when they are associated with sustained entrepreneurial activities in the province. It suggests that academic inquiry may provide new ventures with valuable commercial opportunities overseen by established companies