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Public R&D Investment and Cost Structure in Italian Agriculture 1960-1995

  • Roberto ESPOSTI

    ()

    (Universita' Politecnica delle Marche, Dipartimento di Economia)

  • Pierpaolo PIERANI

    ([n.a.])

This article deals with the role of public research in Italian agriculture during the period 1960 to 1995. A short-term specification of the GL cost function capable of accommodating quasi-fixed factors and variable returns is employed. Temporary equilibrium and scale economies are investigated with special emphasis on methodological implications of R&D stock and;consistency of the estimated model with microeconomic theory. Confronting the relevant shadow and rental price the model provides evidence on the topics of under (over) investment and the rationale driving public research expenditure in agriculture A formal test for the induced innovation hypothesis, the calculation of the internal rate of returns and TFP growth decomposition are also considered.

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File URL: http://docs.dises.univpm.it/web/quaderni/pdf/176.pdf
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Paper provided by Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali in its series Working Papers with number 176.

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Length: 33
Date of creation: Nov 2002
Date of revision:
Handle: RePEc:anc:wpaper:176
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  1. Mansfield, Edwin & Romeo, Anthony & Switzer, Lorne, 1983. "R&D price indexes and real R&D expenditures in the United States," Research Policy, Elsevier, vol. 12(2), pages 105-112, April.
  2. Ruttan, Vernon W, 1997. "Induced Innovation, Evolutionary Theory and Path Dependence:," Economic Journal, Royal Economic Society, vol. 107(444), pages 1520-29, September.
  3. Catherine J. Morrison & Donald Siegel, 1997. "External Capital Factors And Increasing Returns In U.S. Manufacturing," The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 647-654, November.
  4. Catherine J. Morrison & Donald Siegel, 1998. "Knowledge Capital and Cost Structure in the U.S. Food and Fiber Industries," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(1), pages 30-45.
  5. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, March.
  6. Morrison, Catherine J & Schwartz, Amy Ellen, 1996. "State Infrastructure and Productive Performance," American Economic Review, American Economic Association, vol. 86(5), pages 1095-1111, December.
  7. Kuroda, Yoshimi, 1997. "Research and extension expenditures and productivity in Japanese agriculture, 1960-1990," Agricultural Economics, Blackwell, vol. 16(2), pages 111-124, May.
  8. Huffman, Wallace & Just, Richard E., 1999. "The Organization of Agricultural Research in Western Developed Countries," Staff General Research Papers 1649, Iowa State University, Department of Economics.
  9. Morrison, Catherine J, 1988. "Quasi-Fixed Inputs in U.S. and Japanese Manufacturing: A Generalized Leontief Restricted Cost Function Approach," The Review of Economics and Statistics, MIT Press, vol. 70(2), pages 275-87, May.
  10. Paul Romer, 1990. "Are Nonconvexities Important For Understanding Growth?," NBER Working Papers 3271, National Bureau of Economic Research, Inc.
  11. Esposti, Roberto, 2002. "Public agricultural R&D design and technological spill-ins: A dynamic model," Research Policy, Elsevier, vol. 31(5), pages 693-717, July.
  12. Pardey, Philip G. & Craig, Barbara J. & Hallaway, Michelle L., 1987. "U.S. Agricultural Research Deflators: 1890-1985," Staff Papers 13675, University of Minnesota, Department of Applied Economics.
  13. Kuroda, Yoshimi, 1997. "Research and extension expenditures and productivity in Japanese agriculture, 1960-1990," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 16(2), May.
  14. Timo Kuosmanen, 2003. "Duality Theory of Non-convex Technologies," Journal of Productivity Analysis, Springer, vol. 20(3), pages 273-304, November.
  15. Esposti, Roberto & Pierani, Pierpaolo, 2000. "Modelling technical change in Italian agriculture: a latent variable approach," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 22(3), April.
  16. Bengston, David N., 1989. "A Price Index for Deflating State Agricultural Experiment Station Research Expenditures," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, issue 4.
  17. Morrison, Catherine J & Schwartz, Amy Ellen, 1996. "Public Infrastructure, Private Input Demand, and Economic Performance in New England Manufacturing," Journal of Business & Economic Statistics, American Statistical Association, vol. 14(1), pages 91-101, January.
  18. Gordon Rausser, 1999. "Private/Public Research: Knowledge Assets and Future Scenarios," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(5), pages 1011-1027.
  19. Michael Harris & Alan Lloyd, 1991. "The Returns to Agricultural Research and the Underinvestment Hypothesis - A Survey," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 24(3), pages 16-27.
  20. Schimmelpfennig, David & Thirtle, Colin & Zyl, Johan van & Arnade, Carlos & Khatri, Yougesh, 2000. "Short and long-run returns to agricultural R&D in South Africa, or will the real rate of return please stand up?," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 23(1), June.
  21. Bonnisseau, Jean-Marc, 1991. "Existence of Lindahl equilibria in economies with nonconvex production sets," Journal of Economic Theory, Elsevier, vol. 54(2), pages 409-416, August.
  22. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-38, May.
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