ABSTRACT
The possibility of measuring the impact of universities on innovation and economic development, specifically on their local/regional economies, is central to confirming the validity of the dominant paradigm that capitalizing on university research equals innovation equals economic development. This chapter’s focus is on what is being measured, the criteria by which ‘effectiveness’ of that contribution is evaluated, the magnitude of any effects and at what scale the effects are felt, and over what period. It considers the limitations to measurement methods and hence to information about the contribution of universities to economic development in general and their territorial role in particular. This discussion is relevant to the current political trend of evaluation – both of policy designed to enhance the environment for innovation and technology transfer and of the increasing practice of assessment of university output (Hughes 2003).
