Interest has been growing in the study of the role played by university-industry links in the development and strengthening of economic systems. It is commonly agreed that universityindustry links play a crucial role in the economy, and many studies have examined the factors that influence their occurrence. Two sets of factors can be identified from these studies: demand-side factors (i.e. relating to industry) and supply-side factors (i.e. relating to universities). This paper reviews the literature covering these issues, concentrating on the influence of long-term patterns in R&D formalisation on university-industry links. This is done for selected advanced and late-industrialising countries. The literature reviewed indicated that, in advanced countries, university-industry links become more varied as R&D becomes formalised. In late industrialising countries, university-industry links become more intense as R&D becomes formalised.
