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The Effects of R&D on Agricultural Productivity of Australian Broadacre Agriculture: A Semiparametric Smooth Coefficient Approach

Farid Khan and Ruhul Salim

No 204255, 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California from Agricultural and Applied Economics Association

Abstract: This article analyses the role of research and development (R&D) in Australia's broadacre farming by using the semi-parametric smooth coefficient model proposed by Hastie and Tibshirani (1993) and Li et al (2002) and a state-level dataset covering the period 1995 to 2007. While the conventional production function approach only captures the direct effects of R&D, this methodology captures both the direct impact of a change in R&D on output and the indirect impact through changes in efficiency of use of factor inputs in the production process. The empirical results show that once both the direct and indirect effects are taken into consideration, R&D investments significantly increase outputs. The results also show that there are substantial variations in the effects of R&D on output across the states. Such variations need to be taken into account when designing policies for investing public R&D in agriculture.

Keywords: Farm Management; Productivity Analysis; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Pages: 26
Date: 2015-07
New Economics Papers: this item is included in nep-eff and nep-ino
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea15:204255

DOI: 10.22004/ag.econ.204255

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