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Public investment in U.S. agricultural R&D and the economic benefits.
- Source :
-
Food Policy . Feb2015, Vol. 51, p38-43. 6p. - Publication Year :
- 2015
-
Abstract
- A better understanding of the relationship between public investments in agricultural R&D and the productivity enhancing benefits they produce is critical to informing the public funding of agricultural R&D and insuring future increases in agricultural productivity. This paper describes a method of estimating the relationship between research investments, productivity growth, and the resulting economic benefits generated. The data requirements include indexes of multi-factor productivity, investments in R&D, and the value of agricultural output. The real rate of return to public investments in agricultural R&D in the United States is estimated to be 10.5% per annum; however, a reduction in the growth of spending on public agricultural R&D in recent decades raises concerns about productivity growth in coming decades, which is required to insure an adequate supply of food to meet increasing demand. [ABSTRACT FROM AUTHOR]
- Subjects :
- *PUBLIC investments
*FOOD
*ECONOMIC development
*DATA analysis
*ECONOMICS
Subjects
Details
- Language :
- English
- ISSN :
- 03069192
- Volume :
- 51
- Database :
- Academic Search Index
- Journal :
- Food Policy
- Publication Type :
- Academic Journal
- Accession number :
- 101252581
- Full Text :
- https://doi.org/10.1016/j.foodpol.2014.12.005