Is there a correlation between investment in an academic library and a higher education institution's ratings in the Research Assessment Exercise?

Investigates whether a correlation exists between a UK university's academic excellence, as judged by its Research Assessment Exercise (RAE) ratings, and the amount spent on its library. Considers both macro and micro levels, looking at institutions as a whole, and on a departmental level within the area of archaeology. As well as comparing all the higher education institutions, this group is broken down further, comparing the ratings and spending of the Russell and 94 Groups. There are correlations between the different groups of higher education institutions and RAE ratings. However, rather than high RAE ratings causing high library spending or high library spending causing high RAE ratings, it is likely that they are indirectly linked, good universities having both high RAE ratings and good libraries and poor universities having low RAE ratings and less money spent on libraries. Also describes how libraries in universities with archaeology departments allocate budgets.