THE RETURNS FROM RESEARCH IN AUSTRALIAN BROADACRE AGRICULTURE

Authors
Citation
Jd. Mullen et Tl. Cox, THE RETURNS FROM RESEARCH IN AUSTRALIAN BROADACRE AGRICULTURE, Australian journal of agricultural economics, 39(2), 1995, pp. 105-128
Citations number
45
Categorie Soggetti
Economics,Agriculture,"AgricultureEconomics & Policy
ISSN journal
00049395
Volume
39
Issue
2
Year of publication
1995
Pages
105 - 128
Database
ISI
SICI code
0004-9395(1995)39:2<105:TRFRIA>2.0.ZU;2-5
Abstract
Many people share the view that too little is invested in R & D in agr iculture. The relationship between several measures of productivity an d research expenditure was estimated using data from ABARE's surveys o f broadacre industries and a new data series on R & D expenditure for the period 1953 to 1988. The internal rate of return to research was e stimated to be in the range of 15 to 40 percent which does not provide strong evidence that Australia is either under- or over-investing in public research.