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Reduced U.S. Funding of Public Agricultural Research and Extension Risks Lowering Future Agricultural Productivity Growth Prospects

  • Jin, Yu
  • Huffman, Wallace E.
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    The objective of this paper is to provide policymakers with new estimates of the separate returns to public agricultural research and extension and a perspective on future agricultural productivity growth. This requires fitting an econometric model that contains separate regressors for the stock of public agricultural research and public agricultural extension. We use net measures to create our public agricultural research and extension variables. Our model is fitted to data for the U.S. contiguous 48 states, 1970-2004. It yields statistically significant estimates of within-state and spillin stocks of public agricultural research and of within-state agricultural extension. The econometric model of state agricultural TFP yields somewhat optimistic forecasts for agricultural total factor productivity over 2004-2010. The social rate of return to public investments in agricultural research and extension are shown to remain large—both are in excess of 60 percent, which is large by any standard.

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    File URL: http://www.econ.iastate.edu/sites/default/files/publications/papers/p16796-2013-12-18.pdf
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    Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 36796.

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    Date of creation: 18 Dec 2013
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    Handle: RePEc:isu:genres:36796
    Contact details of provider: Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
    Phone: +1 515.294.6741
    Fax: +1 515.294.0221
    Web page: http://www.econ.iastate.edu
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    1. Plastina, Alejandro S. & Fulginiti, Lilyan E., 2009. "Rates of Return to Public Agricultural Research in 48 U.S. States," 2009 Conference, August 16-22, 2009, Beijing, China 51709, International Association of Agricultural Economists.
    2. 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.
    3. Eldon Ball & David Schimmelpfennig & Sun Ling Wang, 2013. "Is U.S. Agricultural Productivity Growth Slowing?," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 35(3), pages 435-450.
    4. repec:cup:cbooks:9780521477185 is not listed on IDEAS
    5. Wallace E. Huffman & Richard E. Just, 2000. "Setting Efficient Incentives for Agricultural Research: Lessons from Principal-Agent Theory," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(4), pages 828-841.
    6. Huffman, Wallace E. & Evenson, Robert E., 2006. "Science for Agriculture: A Long Term Perspective," Staff General Research Papers 12362, Iowa State University, Department of Economics.
    7. Julian M. Alston & Matthew A. Andersen & Jennifer S. James & Philip G. Pardey, 2011. "The Economic Returns to U.S. Public Agricultural Research," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(5), pages 1257-1277.
    8. Ahearn, Mary Clare & Yee, Jet & Bottum, John S., 2003. "Regional Trends In Extension System Resources," Agricultural Information Bulletins 33787, United States Department of Agriculture, Economic Research Service.
    9. Heisey, Paul W. & Wang, Sun Ling & Fuglie, Keith O., 2011. "Public Agricultural Research Spending and Future U.S. Agricultural Productivity Growth: Scenarios for 2010-2050," Economic Brief 138919, United States Department of Agriculture, Economic Research Service.
    10. Sun Ling Wang & Paul W. Heisey & Wallace E. Huffman & Keith O. Fuglie, 2013. "Public R&D, Private R&D, and U.S. Agricultural Productivity Growth: Dynamic and Long-Run Relationships," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 95(5), pages 1287-1293.
    11. Nelson, Gerald C. & Rosegrant, Mark W. & Palazzo, Amanda & Gray, Ian & Ingersoll, Christina & Robertson, Richard & Tokgoz, Simla & Zhu, Tingju & Sulser, Timothy B. & Ringler, Claudia & Msangi, Siwa & , 2010. "Food security, farming, and climate change to 2050: Scenarios, results, policy options," Research reports Gerald C. Nelson, et al., International Food Policy Research Institute (IFPRI).
    12. Fuglie, Keith O. & Heisey, Paul W. & King, John L. & Day-Rubenstein, Kelly A. & Schimmelpfennig, David E. & Wang, Sun Ling, 2011. "Research Investments and Market Structure in the Food Processing, Agricultural Input, and Biofuel Industries Worldwide," Economic Research Report 120324, United States Department of Agriculture, Economic Research Service.
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