The Economic Incidence of R&D and Promotion Investments in the Australian Beef Industry

Xueyan Zhao, J.D. Mullen, G.R. Griffith, R.R. Piggott and William Griffiths ()

No 16/02, Monash Econometrics and Business Statistics Working Papers from Monash University, Department of Econometrics and Business Statistics

Abstract: The issue of the relative returns to farmers from R&D and promotion is examined using a multi-sectoral equilibrium displacement model of the Australian beef industry. Total economic surplus changes and their distributions among various industry groups resulting from 1% cost reductions in various farm and off-farm sectors, and from 1% price premiums from domestic and export market promotion, are estimated. The results are consistent with previous studies in showing that in general, the share of total benefits to farmers is larger from on-farm research than from most off-farm research, and is larger from most types of research than from domestic promotion. The share of total benefits to farmers is larger from export promotion than from off-farm research, and from domestic promotion. The net returns from the different cost-reduction or demand-enhancing scenarios depend on the costs of achieving them.

Keywords: Economics of R&D; promotion; beef industry; equilibrium displacement modelling. (search for similar items in EconPapers)
JEL-codes: C69 D60 M30 Q13 Q16 Q18 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2002-11
New Economics Papers: this item is included in nep-ind
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