Valuing State-Level Funding for Research: Results for Florida

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.


Issue Date:
2006-04
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/43757
Published in:
Journal of Agricultural and Applied Economics, Volume 38, Number 1
Page range:
169-183
Total Pages:
15
JEL Codes:
H40; H72; Q16




 Record created 2017-04-01, last modified 2017-04-28

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