Public Investment Policy in Life-Science Research

Chenggang Wang, Yin Xia, Robbin Shoemaker and Steven T. Buccola

No 21330, 2006 Annual meeting, July 23-26, Long Beach, CA from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The article presents a dynamic model of research investment. This model allows us to examine three important channels through which public investment policy can affect the private sector's research investment, that is, the productivity, replacement, and wage effects. Two alternative empirical approaches are introduced to implement the model. Through a unified examination of the productivity, replacement, and wage effects, the empirical estimation of this model will provide insight into whether public-sector research investment crowds in or crowds out private-sector research investment.

Keywords: Research; and; Development/Tech; Change/Emerging; Technologies (search for similar items in EconPapers)
Pages: 24
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea06:21330

DOI: 10.22004/ag.econ.21330

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