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Has the Return on Australian Public Investment in Agricultural Research Changed?


  • Binenbaum, Eran
  • Mullen, John D.
  • Wang, Chang Tao


We examine whether there has been a decline in the returns from Australian public investment in research on broadacre agriculture. Complementing a forthcoming paper by Mullen, we use alternative specifications for the regression equation, which employs the log of total factor productivity (TFP) as the dependent variable. The rate of return is computed on an annual basis rather than by using multi-year averages. In contrast to Mullen’s earlier preliminary analysis, we have now found some evidence of a decline in the rate of return on public R&D investment, lending some support to recently voiced concerns on this matter.

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  • Binenbaum, Eran & Mullen, John D. & Wang, Chang Tao, 2008. "Has the Return on Australian Public Investment in Agricultural Research Changed?," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 6016, Australian Agricultural and Resource Economics Society.
  • Handle: RePEc:ags:aare08:6016

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    1. Wallace E. Huffman & Robert E. Evenson, 2006. "Do Formula or Competitive Grant Funds Have Greater Impacts on State Agricultural Productivity?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(4), pages 783-798.
    2. Mullen, John D. & Cox, Thomas L., 1995. "The Returns From Research In Australian Broadacre Agriculture," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 0(Number 2), pages 1-24, August.
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    1. Rao, Xudong & Hurley, Terrance M. & Pardey, Philip G., 2016. "Are Agricultural R&D Returns Declining and Development Dependent?," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235962, Agricultural and Applied Economics Association.

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