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on Sociology of Economics |
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Issue of 2007‒12‒15
five papers chosen by Jonas Holmström Swedish School of Economics and Business Administration |
| By: | Ali, Showkat; Carden, Giles; Culling, Benjamin; Hunter, Rosalind; Oswald, Andrew J (Department of Economics, University of Warwick); Owen, Nicola; Ralsmark, Hilda; Snodgrass, Natalie |
| Abstract: | There are signs – one is world university league tables – that people increasingly think globally when choosing the university in which they wish to work and study. This paper is an exploration of data on the international brain drain. We study highly-cited physicists, highly-cited bio-scientists, and assistant professors of economics. First, we demonstrate that talented researchers are being systematically funnelled into a small number of countries. Among young economists in the top American universities, for example, 75% did their undergraduate degree outside the United States. Second, the extent of the elite brain drain is considerable. Among the world’s top physicists, nearly half no longer work in the country in which they were born. Third, the USA and Switzerland are per capita the largest net-importers of elite scientists. Fourth, we estimate the migration ‘funnelling coefficient’ at approximately 0.2 (meaning that 20% of top researchers tend to leave their country at each professional stage). Fifth, and against our prior expectations, the productivity of top scientists, as measured by the Hirsch h-index, is similar between the elite movers and stayers. Thus it is apparently not true that it is disproportionately the very best people who emigrate. Sixth, there is extreme clustering of ISI Highly Cited Researchers into particular fields in different universities. Seventh, we debate the questions: are the brain drain and this kind of funnelling good or bad for the world, and how should universities and governments respond? |
| Date: | 2007 |
| URL: | http://d.repec.org/n?u=RePEc:wrk:warwec:825&r=sog |
| By: | Rachel Griffith; Sokbae Lee; John Van Reenen |
| Abstract: | We examine the "home bias" of international knowledge spillovers as measured by the speedof patent citations (i.e. knowledge spreads slowly over international boundaries). We presentthe first compelling econometric evidence that the geographical localization of knowledgespillovers has fallen over time, as we would expect from the dramatic fall in communicationand travel costs. Our proposed estimator controls for correlated fixed effects and censoring induration models and we apply it to data on over two million citations between 1975 and1999. Home bias declines substantially when we control for fixed effects: there is practicallyno home bias for the more "modern" sectors such as pharmaceuticals andinformation/communication technologies. |
| Keywords: | Fixed effects, home bias, patent citations, knowledge spillovers |
| JEL: | O32 O33 F23 |
| Date: | 2007–08 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp0818&r=sog |
| By: | Yongil Jeon (Sungkyunkwan University); Stephen M. Miller (University of Nevada, Las Vegas, and University of Connecticut); Subhash C. Ray (University of Connecticut) |
| Abstract: | Since 1988, Business Week biennially ranks MBA programs based on qualitative ("subjective") surveys of students and employers. The Business Week ranking, and similar rankings, based on perceptions of MBA-program customers, rings the alarm that image, rather than substance, may become the raison dÇetre of MBA-program evaluation and selection. We rank MBA programs using the quantitative ("objective") data collected with the 2004 Business Week survey, attempting to address these concerns about image over substance. We employ equal-weighted and principal components indexes to rank MBA programs. Our indexes fall into three categories - output, input, and output-input indexes - that rank MBA programs proximately from the interests of students, employers, and MBA program administrators, respectively. |
| Keywords: | MBA Programs, Reputation, Ranking, Principal Component |
| JEL: | M00 |
| Date: | 2007–10 |
| URL: | http://d.repec.org/n?u=RePEc:uct:uconnp:2007-44&r=sog |
| By: | Braunerhjelm, Pontus (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | Is a shift in intellectual property rights to universities the key instrument in increasing com-mercialization of publicly funded research? How much can actually be learned from the U.S. system, disregarding the ongoing debate as to whether the U.S. do actually outperform Europe in terms of commercializing university based research? Taking Sweden as a role model I claim that this policy will not work. This allegation stems from the analysis of a unique data-base giving individual university researchers view on participation in commercialization of public research, their commercialization experiences, and the obstacles researchers claim exist to increase academic entrepreneurship. Despite researchers positive attitudes towards engag-ing in commercial activities, the university culture, weak incentive structures and badly man-aged support facilities impede the creation of efficient links to markets. I conclude that meas-ures must be taken at primarily the national level, but also at the university level, to enhance commercialization activities. |
| Keywords: | academic entrepreneurship; commercialization; links; policies |
| JEL: | J24 O31 O57 |
| Date: | 2007–12–11 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0100&r=sog |
| By: | Aurora A.C. Teixeira (INESC Porto; CEMPRE, Faculdade de Economia, Universidade do Porto) |
| Abstract: | Research on entrepreneurship potential targeting university students is emerging. However, it is in general focused on one school-one course. Few studies analyze the differences in entrepreneurial propensity between students of different subjects. In this paper we analyze the magnitude of this propensity in engineering and economics/business courses. The reason for such focus is that traditionally these courses are viewed as the ones concentrating individuals that are more likely to create new ventures. The empirical results, based on a large-scale survey of 2430 final-year students, reveal that no statistical difference exists in entrepreneurial potential of economics/business and engineering students, and that these two latter groups have lower entrepreneurial potential than students from other courses. This result proves to be quite unfortunate given the focus that previous studies have placed on these two majors, and the fact that a substantial part of entrepreneurial education is undertaken in business and engineering schools. |
| Keywords: | Entrepreneurship; Students; Business; Engineering |
| JEL: | M13 |
| Date: | 2007–12 |
| URL: | http://d.repec.org/n?u=RePEc:por:fepwps:256&r=sog |