Emergence of Economic Institutions: Analysing the Third Role of Universities in Turku, Finland

Regional Studies, Vol. 1, pp. 1-19, 2006

20 Pages Posted: 18 Mar 2008 Last revised: 27 Mar 2013

See all articles by Smita Srinivas

Smita Srinivas

Technological Change Lab, Columbia University

Kimmo Viljamaa

affiliation not provided to SSRN

Abstract

How do universities become economic development institutions? The normative 'Third Role' in Europe refers to universities taking on explicit economic development mandates such as greater technology transfer, and commercial outputs, without providing much of a compass for institutional change. It is argued that universities transform themselves into economic institutions against a changing canvas of national welfare by a process of 'task-oriented institutionalization' which involves both individual action and university strategy. Two universities' interactions with firms in Turku, Finland's biotechnology concentration, are investigated. Using universities as a lens, notable gaps are found in frameworks on how economic institutions emerge, and the paper concludes with five hypotheses for future studies on universities, institutions, and economic development.

Keywords: Economic development, Institutions, Planning models, Universities, Urban and regional development, Science and technology policy, Finland

JEL Classification: D02, I23, O21, R11

Suggested Citation

Srinivas, Smita and Viljamaa, Kimmo, Emergence of Economic Institutions: Analysing the Third Role of Universities in Turku, Finland. Regional Studies, Vol. 1, pp. 1-19, 2006, Available at SSRN: https://ssrn.com/abstract=1107376

Smita Srinivas (Contact Author)

Technological Change Lab, Columbia University ( email )

400 Avery, 1172 Amsterdam Avenue, MC 340
New York,, NY 10027
United States

Kimmo Viljamaa

affiliation not provided to SSRN ( email )

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