Economic Impact of Universities -- for the Long Run

Many colleges and universities release studies about the way they contribute to the economic health of their locales. A new study released by the National Bureau of Economic Research (abstract available here) takes a very long-term perspective. The study looks at the locations of nearly 15,000 universities in 1,500 regions in 78 countries and found that having more universities in an area is associated with a higher gross domestic product. Further, the study found that this is not just about the funds students and employees spend. Rather it reflects "an increased supply of human capital and greater innovation."