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Impacts of foreign policies on the gains from research and promotion

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  • J.P. Voon
  • G.W. Edwards

Abstract

This paper compares llie direct and indirect effects of rest‐of‐the‐world (ROW) policy on welfare in country A: the direct effect due to the change in world price caused by (he policy in (he absence of research/promotion‐induced shifts in supply/demand, and the additional (or indirect) effect of the policy on (he welfare gain to country A from its investment in research and promotion. The results showed that the reduction in aggregate economic benefits from research/promotion due to a world price‐reducing policy in ROW could be in the range of 25‐50% of the direct reduction in social welfare due to the ROW policy. In the case of Australian beef/veal, it is possible for the welfare impact of the ROW policy via research payoff in country A to exceed the direct welfare cost.

Suggested Citation

  • J.P. Voon & G.W. Edwards, 1999. "Impacts of foreign policies on the gains from research and promotion," Agricultural Economics, International Association of Agricultural Economists, vol. 20(1), pages 11-21, January.
    • Handle: RePEc:bla:agecon:v:20:y:1999:i:1:p:11-21
    DOI: 10.1111/j.1574-0862.1999.tb00547.x
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