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Please use this identifier to cite or link to this item: http://purl.umn.edu/43757

Title: Valuing State-Level Funding for Research: Results for Florida
Authors: Moss, Charles B.
Keywords: cointegration
research and development
state expenditures
total factor productivity
JEL Codes: H40
H72
Q16
Issue Date: 2006-04
Abstract: This study analyzes the value of agricultural research to Florida by examining the effect of research spending on agricultural productivity, as measured by a total factor productivity index, and profitability, as measured by net farm income. Results suggest that research expenditures do increase agricultural productivity in the state. However, agricultural productivity does not affect net cash income. Further, the economic rents to the productivity gains do not accrue to land values. Instead, the economic value of research innovations accrues more to consumers than to producers. Thus, consumers are the ultimate beneficiaries of agricultural research in Florida, thereby justifying public funding for agricultural research.
URI: http://purl.umn.edu/43757
Institution/Association: Journal of Agricultural and Applied Economics>Volume 38, Number 01, April 2006
Total Pages: 15
From Page: 169
To Page: 183
Collections:Volume 38, Number 01, April 2006

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