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Public R&D Investment and Cost Structure in Italian Agriculture 1960-1995

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Author Info
Roberto ESPOSTI () (Universita' Politecnica delle Marche, Dipartimento di Economia)
Pierpaolo PIERANI ([n.a.])

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Abstract

This article deals with the role of public research in Italian agriculture during the period 1960 to 1995. A short-term specification of the GL cost function capable of accommodating quasi-fixed factors and variable returns is employed. Temporary equilibrium and scale economies are investigated with special emphasis on methodological implications of R&D stock and;consistency of the estimated model with microeconomic theory. Confronting the relevant shadow and rental price the model provides evidence on the topics of under (over) investment and the rationale driving public research expenditure in agriculture A formal test for the induced innovation hypothesis, the calculation of the internal rate of returns and TFP growth decomposition are also considered.

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File URL: http://dea2.univpm.it/quaderni/pdf/176.pdf
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Publisher Info
Paper provided by Universita' Politecnica delle Marche (I), Dipartimento di Economia in its series Working Papers with number 176.

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Date of creation: Nov 2002
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Handle: RePEc:anc:wpaper:176

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Related research
Keywords: R&D price; optimal investment; public R&D; short-run cost function;

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Find related papers by JEL classification:
O30 - Economic Development, Technological Change, and Growth - - Technological Change - - - General
Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Agricultural Extension Services

Cited by:
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  1. Baldi, Lucia & Casati, Dario, 2005. "Induced Innovation in Italy: An Error Correction Model for the Period 1968-2002," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24590, European Association of Agricultural Economists. [Downloadable!]
  2. Roberto Esposti & Pierpaolo Pierani, 2008. "Price-induced technical progress in Italian agriculture," Review of Agricultural and Environmental Studies - Revue d'Etudes en Agriculture et Environnement, INRA Department of Economics, vol. 89(4), pages 5-28. [Downloadable!]
    Other versions:
  3. Esposti, Roberto & Pierani, Pierpaolo, 2005. "Price-Induced Technological Change in Italian Agriculture: An SGM Restricted Cost Function Approach (1951-91)," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24662, European Association of Agricultural Economists. [Downloadable!]
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This page was last updated on 2009-12-18.

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