THE RETURNS FROM RESEARCH IN AUSTRALIAN BROADACRE AGRICULTURE

Author

John D. Mullen and Thomas L. Cox

Australian Journal of Agricultural Economics, 1995, vol. 39, issue 02

Abstract: Many people share the view that too little is invested in R & D in agriculture. The relationship between several measures of productivity and research expenditure was estimated using data from ABARE's surveys of broadacre industries and a new data series on R & D expenditure for the period 1953 to 1988. The internal rate of return to research was estimated to be in the range of 15 to 40 percent which does not provide strong evidence that Australia is either under- or over-investing in public research.

Keywords: Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Date: 1995
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