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An Appraisal of the Effects of Demand Increasing Research in Distorted Markets

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  • Voon, T.J.

    (School of Economics, Griffith University, Nathan, QLD 4111)

Abstract

In this paper economic models are developed for evaluating the size and the distribution of agricultural research benefits in markets distorted by government-induced price policies. In the empirical analysis the results with outcomes for a distorted market are compared with those for a free market. It is reported in the paper that the net benefits to country A from demand-increasing research may be larger or smaller in the presence of a price policy than under free trade, depending on the type of price distortion concerned. An implication of the analysis is that if the net benefits are larger with a free than with a distorted market, economic efficiency accruing to demand-enhancing research may be increased if the government eliminates such distortion.

Suggested Citation

  • Voon, T.J., 1993. "An Appraisal of the Effects of Demand Increasing Research in Distorted Markets," Economic Analysis and Policy, Elsevier, vol. 23(1), pages 45-58.
    • Handle: RePEc:eee:ecanpo:v:23:y:1993:i:1:p:45-58
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    Cited by:

    1. Voon, Thomas Jan P., 1996. "Evaluating Quality Improvement in Nonhomogeneous Agricultural Commodities: The Case of Australian Beef," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 64(02), pages 1-7, August.
    2. Hill, D. J. & Piggott, R. R. & Griffith, G. R., 2001. "Profitability of incremental generic promotion of Australian dairy products," Agricultural Economics, Blackwell, vol. 26(3), pages 253-266, December.
    3. Voon, J. P. & Edwards, G. W., 1999. "Impacts of foreign policies on the gains from research and promotion," Agricultural Economics, Blackwell, vol. 20(1), pages 11-21, January.
    4. Hill, D. J. & Piggott, R. R. & Griffith, G. R., 1996. "Returns from Incremental Promotion Expenditure in the Australian Dairy Industry," 1996 Conference (40th), February 11-16, 1996, Melbourne, Australia 156401, Australian Agricultural and Resource Economics Society.

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