An Appraisal of the Effects of Demand Increasing Research in Distorted Markets

T.J. Voon
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T.J. Voon: School of Economics, Griffith University, Nathan, QLD 4111

Economic Analysis and Policy, 1993, vol. 23, issue 1, 45-58

Abstract: In this paper economic models are developed for evaluating the size and the distribution of agricultural research benefits in markets distorted by government-induced price policies. In the empirical analysis the results with outcomes for a distorted market are compared with those for a free market. It is reported in the paper that the net benefits to country A from demand-increasing research may be larger or smaller in the presence of a price policy than under free trade, depending on the type of price distortion concerned. An implication of the analysis is that if the net benefits are larger with a free than with a distorted market, economic efficiency accruing to demand-enhancing research may be increased if the government eliminates such distortion.

Date: 1993
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