Impact of public research investments on agricultural productivity in Chile

Bouali Guesmi, Juan Hernán Cabas Monje, Marta Alfaro Valenzuela and José M. Gil

Agribusiness, 2024, vol. 40, issue 1, 277-298

Abstract: This study examined the relationship between public research and development (R&D) investment and agricultural productivity growth in Chile during the 1964–2017 period. To achieve this objective, we used a combined approach based on accounting and econometric measures. The results indicated that agricultural productivity grew at an annual average rate of 2.11%. Additionally, the empirical findings show a positive and significant relationship between public R&D investment and agricultural productivity. Furthermore, the cost–benefit analysis reveals a high return (15%–21%) to public R&D resources, which may have contributed to enhancing the productivity performance of Chile's agricultural sector. In this regard, our findings suggest that agricultural R&D spending has been profitable in recent decades and that a higher allocation of R&D resources is justifiable. [EconLit Citations: C22, Q14, Q16].

Date: 2024
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https://doi.org/10.1002/agr.21842

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Persistent link: https://EconPapers.repec.org/RePEc:wly:agribz:v:40:y:2024:i:1:p:277-298

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