Valuing State-Level Funding for Research: Results for Florida

Charles B Moss ()

Journal of Agricultural and Applied Economics, 2006, vol. 38, issue 01

Abstract: 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.

Keywords: cointegration; research and development; state expenditures; total factor productivity; Agricultural and Food Policy; Agricultural Finance; Community/Rural/Urban Development; Research and Development/Tech Change/Emerging Technologies; Teaching/Communication/Extension/Profession; H40; H72; Q16 (search for similar items in EconPapers)
Date: 2006
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Persistent link: http://EconPapers.repec.org/RePEc:ags:joaaec:43757

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