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Agricultural R&D and Economic Growth AgEcon
Dinopoulos, Elias.
The paper develops a dynamic general-equilibrium model of Schumpeterian growth which is fueled by industrial and agricultural R&D. The former is private and results in better production processes, whereas the latter is government-financed (public and applied) R&D and generates better crop varieties. The arrival of innovations in either sector is stochastic. The model is used to calculate the steady-state equilibrium and the growth-maximizing mix of agricultural and industrial R&D investments. It is also used to highlight the properties of social rates of return (ROR) of R&D which are based on partial-equilibrium calculations. These measures overestimate the true agricultural social ROR and underestimate the true industrial social ROR of...
Tipo: Report Palavras-chave: Food security; Food policy; Research and development; Economic growth; International Development; Research and Development/Tech Change/Emerging Technologies; Downloads July 2008 - June 2009: 14; Q16.
Ano: 1996 URL: http://purl.umn.edu/54690
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