TY  - EJOUR
AB  - Investment in R&D has long been regarded as an important source of productivity
growth in Australian agriculture. Perhaps because research lags are long, current
investment in R&D is monitored closely. Investment in R&D has been flat while
productivity growth has remained strong, relative both to other sectors of the Australian
economy and to the agricultural sectors of other countries. Such productivity growth, at
a time when the decline in terms of trade facing Australian farmers has slowed, may have
enhanced the competitiveness of Australian agriculture. The econometric results presented
here suggest no evidence of a decline in the returns from research from the 15 to
40 per cent per annum range estimated by Mullen and Cox. In fact the marginal impact
of research increases with research over the range of investment levels experienced from
1953 to 2000, a finding which lends support to the view that there is underinvestment
in agricultural research. These results were obtained from econometric models which
maintain strong assumptions about how investments in research and extension translate
into changes in TFP. Hence some caution in interpreting the results is warranted.
AU  - Mullen, John D.
DA  - 2007
DA  - 2007
DO  - 10.22004/ag.econ.118518
DO  - doi
EP  - 384
EP  - 359
ID  - 118518
IS  - 4
JF  - Australian Journal of Agricultural and Resource Economics
KW  - Productivity Analysis
KW  - Research and Development/Tech Change/Emerging Technologies
KW  - productivity
KW  - research and development
KW  - research evaluation
L1  - https://ageconsearch.umn.edu/record/118518/files/j.1467-8489.2007.00392.x.pdf
L2  - https://ageconsearch.umn.edu/record/118518/files/j.1467-8489.2007.00392.x.pdf
L4  - https://ageconsearch.umn.edu/record/118518/files/j.1467-8489.2007.00392.x.pdf
LA  - eng
LA  - English
LK  - https://ageconsearch.umn.edu/record/118518/files/j.1467-8489.2007.00392.x.pdf
N2  - Investment in R&D has long been regarded as an important source of productivity
growth in Australian agriculture. Perhaps because research lags are long, current
investment in R&D is monitored closely. Investment in R&D has been flat while
productivity growth has remained strong, relative both to other sectors of the Australian
economy and to the agricultural sectors of other countries. Such productivity growth, at
a time when the decline in terms of trade facing Australian farmers has slowed, may have
enhanced the competitiveness of Australian agriculture. The econometric results presented
here suggest no evidence of a decline in the returns from research from the 15 to
40 per cent per annum range estimated by Mullen and Cox. In fact the marginal impact
of research increases with research over the range of investment levels experienced from
1953 to 2000, a finding which lends support to the view that there is underinvestment
in agricultural research. These results were obtained from econometric models which
maintain strong assumptions about how investments in research and extension translate
into changes in TFP. Hence some caution in interpreting the results is warranted.
PY  - 2007
PY  - 2007
SP  - 359
T1  - Productivity growth and the returns from public investment in R&D in Australian broadacre agriculture
TI  - Productivity growth and the returns from public investment in R&D in Australian broadacre agriculture
UR  - https://ageconsearch.umn.edu/record/118518/files/j.1467-8489.2007.00392.x.pdf
VL  - 51
Y1  - 2007
T2  - Australian Journal of Agricultural and Resource Economics
ER  -