Knowledge Productivity and the Returns to Agricultural Research: A Review

16 Pages Posted: 18 Apr 2019

Date Written: April 2019

Abstract

This paper describes the identification, specification, estimation, and evaluation of econometric models of knowledge productivity and the returns‐to‐research. General issues related to these models are discussed and placed in context of the literature. The path from R&D investment to economic benefit is complex, convoluted, generally unknown and possibly misrepresented. The complexity arises from the intricate spatial spillover relationships and the very long time periods involved, which complicate any econometric analysis. The relevant R&D investment data are typically unavailable, incomplete and poorly measured (or approximated). The appropriate calculation of the financial benefit is not entirely clear. Some parsimonious suggestions for future research are presented.

Keywords: agricultural productivity, agricultural R&D, rate of return

Suggested Citation

Andersen, Matthew A., Knowledge Productivity and the Returns to Agricultural Research: A Review (April 2019). Australian Journal of Agricultural and Resource Economics, Vol. 63, Issue 2, pp. 205-220, 2019, Available at SSRN: https://ssrn.com/abstract=3373954 or http://dx.doi.org/10.1111/1467-8489.12296

Matthew A. Andersen (Contact Author)

University of Wyoming ( email )

Box 3434 University Station
Laramie, WY 82070
United States

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