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Value Generation and Economic Impact of the University of Granada
Knowledge of the value generated within Higher Education institutions is of great interest for various agents, in particular managers, as well as governments and society. University missions and their scope complicate any comparable measurement of the effects they may have. Perhaps the most adequate term for it and one that includes simple economic impact is value. This study is centered on the estimation of the economic impact of the University of Granada (UGR) in the short term. Using a methodology based on the input-output framework and multipliers, the total (direct, indirect and induced) effects of UGR on production, income and employment are quantified, differentiating between economic sectors. The total impact of UGR is 3.2 times the expenditure of the agents linked to the activities of the university, which implies that each Euro invested by the government was converted into 7.1 Euros. Its effect on total production surpassed two-thousand million Euros, with an income of one-thousand million Euros and over twenty-five thousand equivalent jobs. Quantification of the impact is a measure of the importance of UGR to the local area and the performance of public-sector investment in higher education.