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Mullen, John D.. |
There is evidence that productivity in Australia’s broadacre agriculture (extensive cropping and livestock industries) has been slowing in the past decade. A series of poor seasons has been partly responsible, but an econometric analysis of structural changes in the trend of total factor productivity (TFP) indicates that stagnant public investment in agricultural R&D has also made a significant contribution to this slowdown in TFP. Related econometric analysis of the returns to public investment in agricultural R&D in the broadacre sector confirms that the rate of return to investment remains high. Despite these findings, a recent enquiry by Australia’s Productivity Commission into the financing of rural research suggests that the public sector may... |
Tipo: Article |
Palavras-chave: Total factor productivity; Returns to research; Crowding out; Farm Management. |
Ano: 2012 |
URL: http://purl.umn.edu/122896 |
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