Do Universities Improve Local Economic Resilience?
利用1830-1930年间美国州政府分配师范学校和精神病院的准自然实验，发现区域大学能抵消制造业冲击的负面效应，其韧性机制与大学支出稳定性和学士学位占比相关。
Abstract We use a novel identification strategy to investigate whether regional universities make their local economies more resilient. Our strategy is based on state governments using similar site-selection criteria to assign normal schools (to train teachers) and insane asylums between 1830 and 1930. Normal schools became larger regional universities while asylum properties mostly continue as small state-owned psychiatric health facilities. We find that a regional university roughly offsets the negative effects of manufacturing exposure. We show the resilience of regional public university spending is an important mechanism, and we show correlations consistent with bachelor’s degree share also playing a mediating role.