Investing in Research and Education versus Commodity Programs: Implications for Agricultural Productivity

Shiva Makki, Luther Tweeten and Cameron Thraen

Journal of Productivity Analysis, 1999, vol. 12, issue 1, 77-94

Abstract: The long-term impact of research, education, and various government support programs on U.S. agricultural productivity was analyzed using an error correction model. Results indicate that the proposed reduction in commodity program expenditures (e.g. 1996 Farm Bill) is unlikely to reduce agricultural productivity. Results suggest that shifting public funds from commodity programs to education and research would raise U.S. agricultural productivity. Our estimates of long-term rates of return to public research are lower than those from most previous, perhaps due to our improved model specification, but are high enough to justify continued public investments to raise productivity. Copyright Kluwer Academic Publishers 1999

Keywords: Agricultural productivity; Public and private R and D; Education; Commodity programs; Cointegration; Error Correction model (search for similar items in EconPapers)
Date: 1999
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:kap:jproda:v:12:y:1999:i:1:p:77-94

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DOI: 10.1023/A:1007855224376

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