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R&D Spillovers: Evidence from U.S. Food Processing, Farm Machinery and Agricultural Sectors

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  • Munisamy Gopinath
  • Terry Roe

Abstract

This paper computes private and social rates of return to R&D capital in the three vertically linked sectors, primary agriculture, food processing, and the farm machinery in the United States. Using a cost function approach, the private rates of return to R&D ranged from an average of 21.5% per annum for farm machinery to 87.5% for agriculture. The social rates of return to R&D in food processing and farm machinery are larger than the private rates due to spillovers. We find that spillovers from public agricultural R&D mitigates the market's failure in farm machinery to fully appropriate the returns to its R&D capital.

Suggested Citation

  • Munisamy Gopinath & Terry Roe, 2000. "R&D Spillovers: Evidence from U.S. Food Processing, Farm Machinery and Agricultural Sectors," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 9(3), pages 223-244.
  • Handle: RePEc:taf:ecinnt:v:9:y:2000:i:3:p:223-244
    DOI: 10.1080/10438590000000009
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    References listed on IDEAS

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    1. Bronwyn H. Hall & Clint Cumminq & Elizabeth S. Laderman & Joy Mundy, 1988. "The R&D Master File Documentation," NBER Technical Working Papers 0072, National Bureau of Economic Research, Inc.
    2. Ruttan, Vernon W., 1987. "Induced innovation and agricultural development," Food Policy, Elsevier, vol. 12(3), pages 196-216, August.
    3. Ruttan, Vernon W. & Hayami, Yujiro, 1971. "Technology Transfer And Agricultural Development," Staff Papers 13993, University of Minnesota, Department of Applied Economics.
    4. Jeffrey I. Bernstein, 1996. "International R&D Spillovers between Industries in Canada and the United States, Social Rates of Return and Productivity Growth," Canadian Journal of Economics, Canadian Economics Association, vol. 29(s1), pages 463-467, April.
    5. Diao, Xinshen & Elbasha, Elamin H. & Roe, Terry L. & Yeldan, A. Erinc, 1996. "A Dynamic CGE Model: An Application of R&D- Based Endogenous Growth Model Theory," Bulletins 7461, University of Minnesota, Economic Development Center.
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    Cited by:

    1. van Berkum, Siemen & van Meijl, Hans, 2000. "The application of trade and growth theories to agriculture: a survey," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 44(4), December.

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