Assessing the benefits of research expenditures on maize production in South Africa
This paper focuses on assessing the benefits of research expenditures on maize production in South Africa. Both the production and supply function approaches are used to calculate elasticities of research expenditure on output and yield. Cointegration is used to establish long-run relationships between variables in these models. The lag structure of R&D expenditures on output is examined making use of the unrestricted, polynomial, beta and gamma distributions. The coefficients of these lag distributions were then used to calculate a rate of return to maize research expenditure, which was estimated as being between 28% and 39% per annum. These rates of return are high, mitigating in favour of more research expenditure rather than less.
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.:
- Andrews, Donald W. K. & Fair, Ray C., 1992.
"Estimation of polynomial distributed lags and leads with end point constraints,"
Journal of Econometrics,
Elsevier, vol. 53(1-3), pages 123-139.
- Donald W.K. Andrews & Ray C. Fair, 1989. "Estimation of Polynomial Distributed Lags and Leads with End Point Constraints," NBER Technical Working Papers 0079, National Bureau of Economic Research, Inc.
- Nick Vink & Gavin Williams & Johann Kirsten, 2004.
in: The World's Wine Markets, chapter 12
Edward Elgar Publishing.
- Michio Hatanaka & T. Dudley Wallace, 1980. "Multicollinearity and the Estimation of Low-Order Moments in Stable Lag Distributions," NBER Chapters, in: Evaluation of Econometric Models, pages 323-337 National Bureau of Economic Research, Inc.
- Chembezi, Duncan M, 1991. "Acreage Response to Price and Risk: The Case of Tobacco in Malawi," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 18(1), pages 85-102.
- Jan Kmenta & James B. Ramsey, 1980. "Evaluation of Econometric Models," NBER Books, National Bureau of Economic Research, Inc, number kmen80-1, September.
- Alston, Julian M. & Pardey, Philip G. & Taylor, Michael J., 2001. "Agricultural science policy," Food policy statements 32, International Food Policy Research Institute (IFPRI).
- Zvi Griliches, 1958. "Research Costs and Social Returns: Hybrid Corn and Related Innovations," Journal of Political Economy, University of Chicago Press, vol. 66, pages 419.
When requesting a correction, please mention this item's handle: RePEc:ags:agreko:54718. See general 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: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.