@article{Nedumaran:165879,
      recid = {165879},
      author = {Nedumaran, S. and Bantilan, Ma Cynthia S. and  Mason-D'Croz, Daniel and Singh, Piara},
      title = {Application of Multi-Commodity Partial Equilibrium Model  to Quantify the Welfare Benefits of Research},
      address = {2014},
      number = {425-2016-27159},
      pages = {28},
      year = {2014},
      abstract = {Most of the research evaluation and priority setting  studies in the past are not likely to incorporate the  cross-commodity effects in the estimation of welfare  benefits since the cross-price elasticities are often  unavailable and cross-commodity spillovers of technologies  may be difficult to estimate. This paper also illustrates  how the multi-commodity framework is suitable in addressing  longer term trends in quantifying future welfare gains and  their implications for resource allocation for dryland  crops namely sorghum and groundnuts.
To address these gaps,  this paper will highlight the application of  multi-commodity partial equilibrium model called  International Model for Policy Analysis of Agricultural  Commodities and Trade (IMPACT) to estimate the welfare  benefits of sorghum and groundnuts research. The modelling  framework also integrates crop modelling suite, hydrology  model, climate models and welfare analysis. This model will  endogenously estimate the changes in the production,  consumption and prices due to adoption of new productivity  enhancing technologies and also estimate the changes in the  other commodities demand, supply and prices through cross  price elasticities effects.
The returns to research  investment for developing these promising cultivars and  dissemination in the target countries were also estimated.  The potential global net benefits derived from adoption of  heat and drought tolerant cultivar in the target counties  are about $302.39 million and $784.08 million with IRR of  30% and 41% respectively. The promising technology with  combination of three traits (drought tolerance, heat  tolerance and increased yield potential) will produce  potential net benefits of $1.5 billion with IRR of 50%.},
      url = {http://ageconsearch.umn.edu/record/165879},
      doi = {https://doi.org/10.22004/ag.econ.165879},
}