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The Returns To Agricultural Research In Maine: The Case Of A Small Northeastern Experiment Station

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  • Leiby, James D.
  • Adams, Gregory D.

Abstract

Estimates of the marginal internal rate of return to expenditures for research by the Maine Agricultural Experiment Station are presented. Estimates are performed using ridge regression under an array of specifications, including alternative functional forms, lag structures, costs of public funds, and variable specifications. The results are consistent with many previous results that imply an underinvestment in agricultural research.

Suggested Citation

  • Leiby, James D. & Adams, Gregory D., 1991. "The Returns To Agricultural Research In Maine: The Case Of A Small Northeastern Experiment Station," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 20(1), pages 1-14, April.
    • Handle: RePEc:ags:nejare:28816
    DOI: 10.22004/ag.econ.28816
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    References listed on IDEAS

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    1. Julian M. Alston & Brian H. Hurd, 1990. "Some Neglected Social Costs of Government Spending in Farm Programs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(1), pages 149-156.
    2. Willis L. Peterson, 1967. "Return to Poultry Research in the United States," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(3), pages 656-669.
    3. Robert Evenson, 1967. "The Contribution of Agricultural Research to Production," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(5), pages 1415-1425.
    4. Norton, George W. & Coffey, Joseph D. & Frye, E. Berrier, 1984. "Estimating Returns To Agricultural Research, Extension, And Teaching At The State Level," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 16(1), pages 1-8, July.
    5. Sundquist, W. Burt & Cheng, Cheng-Ge & Norton, George W., 1981. "Measuring Returns to Research Expenditures for Corn, Wheat and Soybeans," Evaluation of Agricultural Research, Proceedings of a Workshop, Minneapolis, MN, May 12-13, 1980, Miscellaneous Publication 8 49022, University of Minnesota, Agricultural Experiment Station.
    6. Glenn Fox, 1985. "Is the United States Really Underinvesting in Agricultural Research?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(4), pages 806-812.
    7. Jeffrey S. Davis, 1980. "A note on the use of Alternative lag structures For research expenditure in aggregate production function models," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 28(2), pages 72-76, July.
    8. Robert Latimer & Don Paarlberg, 1965. "Geographic Distribution of Research Costs and Benefits," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 47(2), pages 234-241.
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    Cited by:

    1. Alston, Julian M. & Pardey, Philip G., 2000. "Reassessing Research Returns: Attribution and Related Problems," 2000 Conference, August 13-18, 2000, Berlin, Germany 197205, International Association of Agricultural Economists.
    2. Stavroula Malla & Richard Gray & Peter Phillips, 2004. "Gains to Research in the Presence of Intellectual Property Rights and Research Subsidies," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 26(1), pages 63-81.
    3. Pardey, Philip G. & Alston, Julian M. & Ruttan, Vernon W., 2010. "The Economics of Innovation and Technical Change in Agriculture," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 939-984, Elsevier.
    4. Alston, Julian M. & Pardey, Philip G. & Ruttan, Vernon W., 2008. "Research Lags Revisited: Concepts and Evidence from U.S. Agriculture," Staff Papers 50091, University of Minnesota, Department of Applied Economics.
    5. Alston, Julian M. & Pardey, Philip G., 2001. "Attribution and other problems in assessing the returns to agricultural R&D," Agricultural Economics, Blackwell, vol. 25(2-3), pages 141-152, September.
    6. Alston, Julian M., 2002. "Spillovers," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 46(3), pages 1-32.
    7. Gray, Richard S. & Malla, Stavroula & Phillips, Peter W.B., 2000. "Gains To Yield Increasing Research In The Evolving Canadian Canola Research Industry," Transitions in Agbiotech: Economics of Strategy and Policy, June 24-25, 1999, Washington, D.C. 26004, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.

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