Research returns redux: a meta-analysis of the returns to agricultural R&D
AbstractA total of 294 studies of returns to agricultural R&D (including extension) were compiled and these studies provide 1,858 separate estimates of rates of return. This includes some extreme values, which are implausible. When the highest and lowest 2.5 percent of the rates of return were set aside, the estimated annual rates of return averaged 73 percent overall–88 percent for research only, 45 percent for research and extension, and 79 percent for extension only. But these averages reveal little meaningful information from a large and diverse body of literature, which provides rate-of-return estimates that are often not directly comparable. The purpose of this study was to go behind the averages, and try to account for the sources of differences, in a meta-analysis of the studies of returns to agricultural R&D. The results conform with the theory and prior beliefs in many ways. Several features of the methods used by research evaluators matter, in particular assumptions about lag lengths and the nature of the research-induced supply shift.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. 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.
Bibliographic InfoPaper provided by International Food Policy Research Institute (IFPRI) in its series EPTD discussion papers with number 38.
Date of creation: 1998
Date of revision:
Rate of return.; Agricultural research.;
Other versions of this item:
- Alston, Julian M. & Marra, Michele C. & Pardey, Philip G. & Wyatt, T.J., 2000. "Research returns redux: a meta-analysis of the returns to agricultural R&D," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 44(2), June.
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.:
- Alston, Julian M. & Craig, Barbara J. & Pardey, Philip G., 1998. "Dynamics in the creation and depreciation of knowledge, and the returns to research:," EPTD discussion papers 35, International Food Policy Research Institute (IFPRI).
- Julian M. Alston & Philip G. Pardey & Jennifer S. James & Matthew A. Anderson, 2009. "The Economics of Agricultural R&D," Annual Review of Resource Economics, Annual Reviews, vol. 1(1), pages 537-566, 09.
- Fullerton, Don, 1991. "Reconciling Recent Estimates of the Marginal Welfare Cost of Taxation," American Economic Review, American Economic Association, vol. 81(1), pages 302-08, March.
- Charles L. Ballard & Don Fullerton, 1993.
"Distortionary Taxes and the Provision of Public Goods,"
NBER Working Papers
3506, National Bureau of Economic Research, Inc.
- Charles L. Ballard & Don Fullerton, 1992. "Distortionary Taxes and the Provision of Public Goods," Journal of Economic Perspectives, American Economic Association, vol. 6(3), pages 117-131, Summer.
- E. Pasour & Marc Johnson, 1982. "Bureaucratic productivity: The case of agricultural research revisited," Public Choice, Springer, vol. 39(2), pages 301-317, January.
- P. G. Lakshminarayan & P W. Gassman & A. Bouzaher & R. C. Izaurralde, 1996. "A Metamodeling Approach to Evaluate Agricultural Policy Impact on Soil Degradation in Western Canada," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 44(3), pages 277-294, November.
- Smith, V. Kerry & Osborne, Laura L., 1996. "Do Contingent Valuation Estimates Pass a "Scope" Test? A Meta-analysis," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 287-301, November.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.