| Registro completo |
| Provedor de dados: |
AgEcon
|
| País: |
United States
|
| Título: |
The Economic Returns to U.S. Public Agricultural Research
|
| Autores: |
Alston, Julian M.
Andersen, Matthew A.
James, Jennifer S.
Pardey, Philip G.
|
| Data: |
2010-10-26
|
| Ano: |
2010
|
| Palavras-chave: |
Spatial technology spillovers
Knowledge stocks
R&D lags
Public agricultural R&D
U.S. states
Research and Development/Tech Change/Emerging Technologies
|
| Resumo: |
Replaced with revised version of paper 07/22/11. Former Title: Revisiting the Returns to U.S. Public Agricultural Research: New Measures, Models, Results, and Interpretation
We use newly constructed state-specific data to explore the implications of common modeling choices for measures of research returns. Our results indicate that state-to-state spillover effects are important, that the R&D lag is longer than many studies have allowed, and that misspecification can give rise to significant biases. Across states, the average of the own-state benefit-cost ratios is 21:1; or 32:1 when the spillover benefits to other states are included. These ratios correspond to real internal rates of return of 9 or 10 percent per annum, much smaller than those typically reported in the literature, partly because we have corrected for a methodological flaw in computing rates of return.
|
| Tipo: |
Working or Discussion Paper
|
| Idioma: |
Inglês
|
| Identificador: |
http://purl.umn.edu/95522
|
| Relação: |
University of Minnesota>Department of Applied Economics>Staff Papers
Staff Paper P10-8, Revised July 2011
InSTePP Paper 10-04, Revised July 2011
|
| Formato: |
46
|
|
