Returns to American Agricultural Research: Are We Assessing Right?

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CFAES_ESO_2260.pdf (2.3 MB)

Date

1995

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Ohio State University. Department of Agricultural, Environmental, and Development Economics

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This study assesses the returns to American agricultural research investments for the years 1930 through 1990 using an error correction model. The estimated internal rates of return are 27% for public research and 6% for private research. These estimates from the most comprehensive and timely data assembled to date indicate that returns to public agricultural research compare favorably to real returns on alternative long-run investments, but do not call for large increases in investments suggested by previous studies or for the drop in public research expenditures appropriated by the United States congress in recent years.

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Exact date of working paper unknown.

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http://hdl.handle.net/1811/66642

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ESO: Economics and Sociology Occasional Papers (AEDE)