The Australian sheep industry and its associated research and development agencies have developed a proposal for the CRC for Sheep Industry Innovation. âTop-downâ and âbottomupâ procedures were used to assess the expected economic benefits from this proposal. Formal âwith-CRCâ and âwithout-CRCâ scenarios were defined for each product and each research theme. Relevant costs were similarly defined. The requested investment by the Commonwealth and the Australian sheep industry in the CRC is assessed relative to a scenario where an alternative, lower cost research program into this industry is implemented. These extra resources have a discounted value of about $34 million over the 25-year period of this evaluation. These resources are sufficient to allow some new research components to be added to the portfolio, some existing components to produce better outcomes, and a more targeted approach to development and extension that speeds up and increases the adoption of the new technologies that are generated by the research program. The benefit from this extra investment and consequent research effort is estimated to be worth about $518 million in present value terms, which is far in excess of the marginal investment. Thus every $1 of these extra resources brought into the Australian sheep industry through funding the proposed CRC is expected to return around $15.30 to the industry in present value terms.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by New South Wales Department of Primary Industries Research Economists in its series Research Reports with number
42656.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.: