There is intense public interest in the role of universities as a source of science-based innovations. To increase our understanding of this role, this book compares the economic effects of university research in the United States and Japan--countries similar in economic and technological capabilities but different in culture, tradition, and institutional structure. Incorporating historical, sociological, and industrial perspectives, the book discusses both the mechanics of university-industry interactions and how policies encouraging such interactions can address regional and national needs.Some of the results of this comparative study are surprising. For example, contrary to common assumptions, collaboration between individual faculty members and colleagues in industry appears to be as high in Japan as it is in the United States. It also becomes clear that it is the pace of technological change, more than government incentives, that puts universities in the position of driving the most exciting areas of business growth. Finally, although universities are vital to the networks that lead to innovation-based growth, experience in both Japan and the United States suggests that policies aimed at transforming economically depressed areas through the promotion of university-based ventures are difficult to implement when the environment for economic transformation is weak.Contributors : Lewis M. Branscomb, Amy B. Candell, Y. T. Chien, Henry Etzkowitz, Irwin Feller, Richard Florida, Michael S. Fogarty, Gerald Hane, Takehiko Hashimoto, Adam B. Jaffe, Sumio Kakinuma, Shingo Kano, Robert Kneller, Fumio Kodama, Hiroto Kotake, Josh Lerner, David C. Mowery, Masamitsu Negishi, Richard R. Nelson, Fujio Niwa, Hiroyuki Odagiri, Seiritsu Ogura, Yoshiyuki Ohtawa, Kenneth Pechter, Bhaven N. Sampat, Amit Sinha, Sheryl Winston Smith, Yuan Sun, Katsuya Tamai, Shinichi Yamamoto, Mariko Yoshihara, Arvids Ziedonis.