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Abstract
Returns to both graduate and continuous training programmes developed and earned out by
EMBRAPA are estimated, following the standard social rate of return approach. Benefits were measured at the
farm level and derived from adoption of new technolog1es associated with training programmes. Estimates of the
internal rate of return are quite htgh for investment in such training programmes, even when compared with any
other investment alternative, whether public or private. Those high rates of return were obtained by considermg
only the direct net benefits for fanners. The indirect net social benefits of the programmes, although not
measurable, can be regarded as favourably supporting EMBRAPA's policy of investment in the development of
human resources. Training programmes have produced important benefits for Brazilian agriculture, thereby
contributing to the country's social and economic development.