If We Build It, We Will Come: Strategies for Developing Academic Institutions and the Evolution of Career Choices by Top Talent During Japan’s Industrialization
Modern day economies rely on academia—with its focus on generating new knowledge and training future work forces—as a critical complement to industry in contributing to endogenous growth. How well academia performs this role, however, depends on its ability to recruit and retain talented faculty who have lucrative alternative options in industry; moreover, such allocation of talent in academia vs. industry is conditioned by path-dependencies in the evolution of these sectors.