Published: Dec 27, 2021

  Oleksandr Romanovskyi

  Yuliia Romanovska

  Oleksandra Romanovska


Innovation policy in the field of higher education and science is one of the main components of the state socio-economic policy of social development and is aimed at creating favorable conditions for the market launch of new ideas created in this sphere. The purpose of the study is to analyze the decisive influence of academic capitalism on the formation of innovation policy in higher education and science, contributing to the creation of an innovative environment for transformational change in this sphere. The methodology of the research is based on an objective standardized approach to the analysis of factual data on the development and implementation of innovation policy in higher education systems and leading universities of the world, the latest published results of experiments, materials of scientific literature on innovation policy and innovation management. Research results. The main directions of innovation policy of entrepreneurial university and innovation relations in the sphere of higher education and science are investigated. It is shown that innovative transformations in the sphere of higher education and science, as a rule, take place within the framework of the innovative policy determined by the leaders of this sphere. It is noted that innovation policy in higher education is a link between the policy of research and scientific (scientific and technical) activities, search and dissemination of knowledge, education and training of qualified specialists in the field of technological development, industrial policy and environmental policy. The authors studied the following: the types of activities promoted by innovation in higher education and innovative environment of this activity; the main directions and main components of innovative policy of entrepreneurial university; innovative relations in higher education and science; innovative environment; the importance of having the necessary competencies, their formation and development; internal and external sources of competencies for universities, etc. Practical implications. The authors suggest that innovation policy in higher education is a link between the policy of research and scientific (scientific and technical) activities; search and dissemination of knowledge; education and training of qualified specialists – on the one hand, and technological development; industrial policy and environmental policy – on the other. This can be used in the creation of the theory and practice of innovation policy development in higher education. The article as a whole is devoted to the further development of the theoretical foundations of higher education innovatics.

How to Cite

Romanovskyi, O., Romanovska, Y., & Romanovska, O. (2021). THE IMPACT OF ACADEMIC CAPITALISM ON THE FORMATION OF INNOVATION POLICIES IN HIGHER EDUCATION AND SCIENCE. Baltic Journal of Economic Studies, 7(5), 169-183.
Article views: 451 | PDF Downloads: 282



academic capitalism, higher education innovatics, innovative policy, innovative environment, management of innovation activities


Altbach, F. (2008). The complex roles of universities in the period of globalization. Higher Education in the World 3, 5–14. Available at:

Baregheh, A., Rowley, J., & Sambrook, S. (2009). “Towards a multidisciplinary definition of innovation”. Management Decision. 47(8): 1323–1339. Available at:

Blass, E., & Hayward, P. (2014). Innovation in higher education; will there be a role for “the academe/university” in 2025?. European Journal of Futures Research, 2, 41. DOI:

Borrás, S. & Edquist, C. (2015). Education, training and skills in innovation policy, Science and Public Policy, 42(2), 215–227. DOI:

Bouwer, L. (2015). Capabilities-Driven Innovation Management Framework: Crossing the Innovator's Chasm. Conference: International Association for Management of Technology 2015. Cape Town, South Africa. Available at:'s_Chasm

Bouwer, L. (2017). The Innovation Management Theory Evolution Map (Working Paper). Innovation Management Research Institute (IMRI), 7 April. Available at:

Branch, J., Hørsted, A., & Nygaard, C. (2018). New Innovations in Teaching and Learning in Higher Education (Learning in Higher Education series). Libri Publishing, 480 p.

Brewer, D. J., & Shirley, M. (2017). Federal Policy to Promote Innovation in US Higher Education, Urban Institute, USA, Washington, DC, September 2017. Available at:

Brewer, D.J., & Tierney, W.G. (2011). “Barriers to Innovation in US Higher Education.” In Reinventing Higher Education: The Promise of Innovation, edited by Ben Wildavsky, Andrew P. Kelly, and Kevin Carey, 11–40. Cambridge, MA: Harvard Education Press.

Cadorin, E., Klofsten,M., Albahari, A., & Etzkowitz, H. (2019). Science Parks and the Attraction of Talents: Activities and Challenges / Eduardo Cadorin, Magnus Klofsten, Alberto Albahari, Henry Etzkowitz, Triple Helix Journal, September 2019, 1–33. Available at:

Cai, Y., Ma, J., & Qiongqiong C. (2020). Higher Education in Innovation Ecosystems Sustainability, 12, 320 p. Available at:

Chen, J., Viardot, E. & Brem, A. (2019). Innovation and innovation management. The Routledge Companion To Innovation Management, Routledge, pp. 3-36. Available at:

Clark, B. R. (2000). Collegial Entrepreneurialism in Proactive Universities: Lessons from Europe. Change: The Magazine of Higher Learning, 32(1), 10–19. Available at:

Clark, B. R. (2004). Sustaining Change in Universities. Continuities in Case Studies and Concepts. The Society for Research into Higher Education & Open University Press, England, McGraw-Hill, 232 p.

Clark, B. R. (1998). Creating Entrepreneurial Universities: Organizational Pathways of Transformations. Oxford, Pergamon-Elsevier Science, 180 p.

Damanpour, F. (2020). Organizational Innovation: Theory, Research, and Direction. Rutgers University, USA, EdgarOnline Business Collections. Available at:

Drucker, P. (2002). “The Discipline of Innovation.” Harvard Business Review. August 2002. Available at:

Dzisah, J., & Etzkowitz, H. (2012). The Age of Knowledge: The Dynamics of Universities, Science and Societies. Leiden-Boston, Brill, 360 p.

Edison, H., Ali, N. B., & Torkar, R. (2014). Towards innovation measurement in the software industry. Journal of Systems and Software, 86(5), 1390–1407. Available at:

Etzkowitz, H. (2019). Is Silicon Valley a global model or unique anomaly? Industry and Higher Education, 33(2), 83-95. Available at:

Etzkowitz, H. (2003). Innovation in Innovation: The Triple Helix of University-Industry-Government Relations. Social Science Information, 42(3), 293–337. Available at:

Etzkowitz, H. (2008). The Triple Helix: University-Industry-Government Innovation in Action. New York & London: Routledge, Taylor & Francis Group, 164 р.

Granstrand, O., & Holgersson, M. (2020). Innovation ecosystems: A conceptual review and a new definition, Technovation, 90–91, 102098. DOI:

Jakovljevic, M. (2018). A model for innovation in higher education. South African Journal of Higher Education, 32(4), 109-131. Available at:

Jessop, B. (2018). On academic capitalism. Critical Policy Studies, 12(1), 104-109. DOI:

Leslie L., Oaxaca R. & Rhoades G. (2001). Technology Transfer and Academic Capitalism. In Albert Teich, H., [and others], editors. AAAS Science and Technology Policy Yearbook. Part 7, Article 23, Pp. 261–277.

McCowan, T. (2017). Higher education, unbundling, and the end of the university as we know it. Oxford Review of Education, 43(6), 733–748. July, 2017. DOI:

Mensch, G. (1979). Stalemate in technology : innovations overcome the depression. – Cambridge, Mass.: Ballinger Pub. Co., 241 p.

Mission-Oriented Innovation policies (2020). Welcome to the OECD Mission-Oriented Innovation policies online toolkit. Available at: (accessed November 11, 2021)

Münch, R. (2020). Academic Capitalism. Oxford University Press. Published online: 09 May 2016 & 30 April 2020. Available at: (accessed November 11, 2021)

Otten, S. (2018). Innovative policy development around the world. A NSW Government website, Nov. 1, 2018, Available at: (accessed December 12, 2021)

Rogers, E. M. (2003). Diffusion of innovations (5th ed.). New York: Free Press, 576 p. Available at:

Romanovskyi, O. & Romanovska, Yu. (2020). Higher educational innovatics as the newest interdisciplinary directon of higher school and higher education science. Interdisciplinary Studies of Complex Systems, 17(2020), 83–101. Available at:

Romanovskyi, O., Romanovska, Yu., & Romanovska, O. (2021). Academic capitalism as a driver of transformational change in the complex system of higher education and science, Baltic Journal of Economic Studies, 7(4), 165–175. DOI:

Romanovskyi, O. O., & Romanovska, Yu. Yu. (2019). Innovation in University Education as a Factor of Sustainable Development of Ukraine. Theoretical Approach, Business, economics, sustainability, leadership and innovations, 3, 67–84. Available at:

Schumpeter, J. A. (1934). The Theory of Economic Development: An Inquiry into Profits, Capital, Credits, Interest, and the Business Cycle. Transaction Publishers, Piscataway, 255 p.

Schumpeter, J. A. (1976). Capitalism, Socialism and Democracy. Routledge, 437 p.

Serdyukov, P. (2017). Innovation in education: what works, what doesn’t, and what to do about it? Journal of Research in Innovative Teaching & Learning, 10(1), 4-33. Available at:

Slaughter S., & Leslie, L. (1997). Academic capitalism. Politics, Policies, and the Entrepreneurial University. – Baltimore (MA, U.S.A.): The John Hopkins University Press. – 276 p.

Somers, P., Davis, C., Fry, J., Jasinski L., & Lee, E. (2018). Academic capitalism and the entrepreneurial university: some perspectives from the Americas // Rotero, Joaçoba, v. 43, n. 1, p. 21–42, jan./abr. 2018. Available at:

Swanger, D. (2016). Innovation in Higher Education: Can Colleges Really Change? Fulton-Montgomery Community College, NY, 58 p. Available at: (accessed November 11, 2021)

The Innovation Policy Platform (2013). WORLD BANK & OECD. Available at: (accessed December 10, 2021)

The Quest For Innovation (2006). A Global Study of Innovation Management 2006-2016. American Management Association, 86 p. Available at:

Tierney W. G., & Lanford M. (2016). Conceptualizing Innovation in Higher Education. In: Paulsen M. (eds) Higher Education: Handbook of Theory and Research. Higher Education: Handbook of Theory and Research, vol 31. Springer, Cham. DOI:

Viale, R., & Etzkowitz, H. (2010). The Capitalization of Knowledge. A Triple Helix of University–Industry–Government. Edward Elgar Publishing, 368 p.