Agricultural Research by the Private Sector

Carl E. Pray () and Keith Fuglie ()
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Carl E. Pray: Department of Agriculture, Food, and Resource Economics, Rutgers University, New Brunswick, New Jersey 08901

Annual Review of Resource Economics, 2015, vol. 7, issue 1, 399-424

Abstract: The private sector has assumed a larger role in developing improved technology for food and agriculture, with private agricultural R&D spending growing faster than public agricultural R&D spending over the past several decades. Major drivers have been new commercial opportunities afforded by scientific advances and liberalization of agricultural input markets. Along with rising private R&D investment, agricultural input industries have undergone significant structural changes. These developments have been pronounced in both high-income and developing countries. The rising importance of private R&D, however, does not imply a diminished role of the public sector, as most empirical evidence points to complementarities between public and private agricultural R&D.

Keywords: appropriability; biotechnology; intellectual property rights; market structure; technological change; technology transfer (search for similar items in EconPapers)
Date: 2015
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