 Public R&D investment and cost structure in Italian agriculture, 1960--1995European Review of Agricultural Economics, 2003, vol. 30, issue 4, 509-537 Abstract: This paper deals with the role of public research in Italian agriculture during the period 1960--1995. A short-run Generalised Leontief cost function capable of accommodating quasi-fixed factors and variable returns is used. Temporary equilibrium and scale economies are investigated with special emphasis on the methodological implications of R&D stock and the consistency of the estimated model with microeconomic theory. Comparing the relevant shadow and rental price provides evidence on under- (over)-investment and the rationale driving public research expenditure in agriculture. A formal test of the induced innovation hypothesis and the calculation of the internal rate of returns are also presented. Copyright 2003, Oxford University Press. Date: 2003 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:oup:erevae:v:30:y:2003:i:4:p:509-537 Ordering information: This journal article can be ordered from Access Statistics for this article European Review of Agricultural Economics is currently edited by Timothy Richards, Salvatore Di Falco, Céline Nauges and Vincenzina Caputo More articles in European Review of Agricultural Economics from Oxford University Press and the European Agricultural and Applied Economics Publications Foundation Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. Contact information at EDIRC. |
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