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Valuing State-Level Funding for Research: Results for Florida

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  • Moss, Charles B.

Abstract

This study analyzes the value of agricultural research to Florida by examining the effect of research spending on agricultural productivity, as measured by a total factor productivity index, and profitability, as measured by net farm income. Results suggest that research expenditures do increase agricultural productivity in the state. However, agricultural productivity does not affect net cash income. Further, the economic rents to the productivity gains do not accrue to land values. Instead, the economic value of research innovations accrues more to consumers than to producers. Thus, consumers are the ultimate beneficiaries of agricultural research in Florida, thereby justifying public funding for agricultural research.

Suggested Citation

  • Moss, Charles B., 2006. "Valuing State-Level Funding for Research: Results for Florida," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 38(01), pages 1-15, April.
    • Handle: RePEc:ags:joaaec:43757
    DOI: 10.22004/ag.econ.43757
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    More about this item

    Keywords

    Agricultural and Food Policy; Agricultural Finance; Community/Rural/Urban Development; Research and Development/Tech Change/Emerging Technologies; Teaching/Communication/Extension/Profession;
    All these keywords.

    JEL classification:

    • H40 - Public Economics - - Publicly Provided Goods - - - General
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services

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