Local Universities as Engines for Innovation, Take-Off & Expansion of Regional Development in Southern Economies

The objective of this paper is to show that universities can be engines for local development and tools for innovation take-off. Previous contributions to literatures on this subject have already shown the positive effects of regional sources of knowledge on local development. Using data on developed, developing and emerging countries, regression analysis is pursued with available data. The attained results showed that developing economies do have room for innovation and local development, as this can be further provided by regional universities and schools. These potential gains have been expressed to be higher for developing and emerging countries. These results imply that developing and emerging countries can enhance their local and overall development and can ensure improved innovation possibilities through the promotion of local universities and schools but these sources of skills and knowledge need to be tied with the local needs of the population.