Article thumbnail

The Shifting Structure of Agricultural R&D : Worldwide Investment Patterns and Payoffs

By Philip G. Pardey, Julian M. Alston, Connie Chang-Kang, Terrance M. Hurley, Robert S. Andrade, Steven P. Dehmer, Kyuseon Lee and X. Rao

Abstract

The future path and pace of agricultural productivity growth areinextricably intertwined with investments in food and agricultural research and development (R&D). Looking back over half a century of evidence, we find that the lay of the global food and agricultural R&D land is changing, with indications that we are in the midst of an historic transition. The more notable trends are as follows: (1) for the first time in modern history (in purchasing power parity, PPP, terms), the middle-income countries now outspend the rich countries in terms of public-sector investments in food and agricultural R&D; (2) the shifting public shares reflect a continuing decline in the rate of growth of food and agricultural R&D spending by the rich countries, along with a generally sustained and substantial growth in spending by the middle-income countries (especially China, India, and Brazil); (3) in PPP terms, China now spends more than the United States on both public- and private-sector food and agricultural R&D; (4) the global share of food and agricultural R&D being conducted by the private sector has increased, especially in the high- and rapidly growing middle-income countries; and (5) the low-income countries are losing ground and account for an exceptionally small share of global spending. The mean and median values of the reported rates of return to food and agricultural R&D based on the IRR are high and remain so, with no signs of a diminution in the payoffs to more recent (compared with earlier) investments in R&D. But the available evidence on the returns to food and agricultural R&D is not fully representative of the institutional (i.e., public versus private), locational, or commodity orientation of the research and the agricultural sector itself. The Shifting Structure of Agricultural R&D: Worldwide.... Available from: https://www.researchgate.net/publication/321253196_The_Shifting_Structure_of_Agricultural_RD_Worldwide_Investment_Patterns_and_Payoffs [accessed May 15 2018]

Topics: Agrarische bedrijfseconomie, Business Economics, Bedrijfseconomie, Business Economics
Publisher: Springer
Year: 2018
DOI identifier: 10.1007/978-3-319-67958-7_2
OAI identifier: oai:library.wur.nl:wurpubs/537593
Provided by: Wageningen Yield
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • https://library.wur.nl/WebQuer... (external link)
  • Suggested articles


    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.