RESHAPING THE CONVENTIONAL WELFARE ECONOMICS FRAMEWORK FOR ESTIMATING THE ECONOMIC IMPACT OF AGRICULTURAL BIOTECHNOLOGY IN THE EUROPEAN UNION

Some of the crucial assumptions of applied welfare economics do not hold any longer in the case of agricultural biotechnology innovations. We review some modifications to the conventional methodologies measuring the size and distribution of agricultural research benefits, which are critical for the assessment of the economic impact of agricultural biotechnology in the European Union. While some modifications are related to the specific features of modern agricultural biotechnology and technology adoption, others are related to the specific institutional settings of the European Union's Common Agricultural Policy and commodity markets.Research and Development/Tech Change/Emerging Technologies,

FORCES AFFECTING CHANGE IN CROP PRODUCTION AGRICULTURE

Agricultural Competitiveness, Crop Production, Agricultural Biotechnology, Agricultural Sustainability, Agricultural Inputs, Agricultural Profitability, Crop Production/Industries, Q10, Q12, Q13,

Knowledge Capital, Intangible Assets, and Leverage: Evidence from U.S. Agricultural Biotechnology Firms

Agricultural biotechnology firms are high technology companies. Firms in general, and high technology firms in particular, are a set of both assets in place and growth opportunities. This has important implications for managerial decision-making. Knowledge capital motivates exploitation of growth options, which affects firm cash flow. In turn, the level and volatility of firm cash flow influences firm financing decisions. Previous studies suggest that knowledge capital can influence both the location and capital structure of firms in the biotechnology industry. However, empirical analysis has not extended to agricultural biotechnology firms. This research helps in understanding the role of knowledge capital and other intangible assets in capital structure decisions of U.S. agricultural biotechnology firms. Quantitative results indicate that leverage is negatively related to growth and nondebt tax shields. Asset tangibility, size, profitability, and uniqueness are positively related to leverage. Using various characterizations of leverage, our models explain up to approximately 75% of the variation in leverage. Empirically generated elasticities buttress the importance of intangible assets such as knowledge capital and tax shields in capital structure choice. This analysis adds a significant new component to understanding the financing decisions of agricultural biotechnology firms.Capital structure, Agricultural biotechnology, Knowledge capital, Intangible assets, Agribusiness,

Agricultural Biotechnology: Opportunities and Challenges for the Philippines

Developing countries, still heavily dependent on agriculture, must now harness biotechnology to modernize agricultural production and diversify product outputs. The Philippines was one of the first Asian countries to establish a biotechnology research and development program. However, not much progress in harnessing the tools of biotechnology has been achieved, especially in the area of varietal improvement. Despite an early realization of the importance of biotechnology in national agricultural development, there was little political will to provide resources for this program to move forward. Modern technology must be regarded as one of the tools in modernizing Philippine agriculture. Its role in varietal improvement, biosecurity, product standards and pest and disease prevention and management must be enhanced. A critical mass of highly trained human resources in the natural and social sciences that will undertake the research and development activities in agricultural technology must also be assured. Private participation must also be encouraged.biotechnology, agricultural technology, agriculture sector, agricultural productivity

Agricultural Biotechnology: Opportunities and Challenges for the Philippines

Developing countries, still heavily dependent on agriculture, must now harness biotechnology to modernize agricultural production and diversify product outputs. The Philippines was one of the first Asian countries to establish a biotechnology research and development program. However, not much progress in harnessing the tools of biotechnology has been achieved, especially in the area of varietal improvement. Despite an early realization of the importance of biotechnology in national agricultural development, there was little political will to provide resources for this program to move forward. Modern technology must be regarded as one of the tools in modernizing Philippine agriculture. Its role in varietal improvement, biosecurity, product standards and pest and disease prevention and management must be enhanced. A critical mass of highly trained human resources in the natural and social sciences that will undertake the research and development activities in agricultural technology must also be assured. Private participation must also be encouraged.biotechnology, agricultural technology, agriculture sector, agricultural productivity

Novel Techniques and Their Applications to Health Foods, Agricultural and Medical Biotechnology: Functional Genomics and Basic Epigenetic Controls in Plant and Animal Cells

Selected applications of novel techniques for analyzing Health Food formulations, as well as for advanced investigations in Agricultural and Medical Biotechnology aimed at defining the multiple connections between functional genomics and epigenomic, fundamental control mechanisms in both animal and plant cells are being reviewed with the aim of unraveling future developments and policy changes that are likely to open new niches for Biotechnology and prevent the shrinking or closing of existing markets. Amongst the selected novel techniques with applications in both Agricultural and Medical Biotechnology are: immobilized bacterial cells and enzymes, microencapsulation and liposome production, genetic manipulation of microorganisms, development of novel vaccines from plants, epigenomics of mammalian cells and organisms, and biocomputational tools for molecular modeling related to disease and Bioinformatics. Both fundamental and applied aspects of the emerging new techniques are being discussed in relation to their anticipated, marked impact on future markets and present policy changes that are needed for success in either Agricultural or Medical Biotechnology. The novel techniques are illustrated with figures presenting the most important features of representative and powerful tools which are currently being developed for both immediate and long term applications in Agriculture, Health Food formulation and production, pharmaceuticals and Medicine. The research aspects are naturally emphasized in our review as they are key to further developments in Biotechnology; however, the course adopted for the implementation of biotechnological applications, and the policies associated with biotechnological applications are clearly the determining factors for future Biotechnology successes, be they pharmaceutical, medical or agricultural

Editor’s introduction. the future of agricultural biotechnology: creative destruction, adoption, or irrelevance?–in honor of Prof. Vittorio Santaniello.

With the death of Prof. Vittorio Santaniello in the summer of 2007, the International Consortium for Agricultural Biotechnology Research (ICABR) lost one of its most enthusiastic founders and most important contributors. This special issue celebrates Prof. Santaniello’s commitment to the establishment of an independent forum of discussion for agricultural biotechnology issues by collecting high-quality, peerreviewed scientific contributions to the ICABR Conference held June 12-14, 2008 in Ravello, Italy. The conference theme, The Future of Agricultural Biotechnology: Creative Destruction, Adoption, or Irrelevance? in Honor of Vittorio Santaniello, was an invitation to look at the current status of scientific knowledge in agricultural biotechnology and to the new challenges ahead. Participants from around the world found their way to the Amalfi Coast to present their contributions and begin to pave the road ahead. Their efforts were framed by seven excellent plenary sessions.biotechnology; research & development; economic growth

Scientific innovation for the sustainable development of African agriculture

The African continent has considerable potential to reap the benefits associated with modern agricultural biotechnology. Plant biotechnology and breeding represent an invaluable toolbox to face the challenges of African agriculture, such as food and nutrition security, environment protection, soil fertility, and crop adaptation to new climatic conditions. As Africa has only relatively recently adopted agricultural biotechnology, it has the opportunity to harness the immense knowledge gathered over the last two decades while avoiding some of the difficulties experienced by early adopters. High-level research and education systems together with a specific regulatory framework are critical elements in the development of sustainable biotechnology-based agriculture and industry. The more actors that are involved in Research & Development applied to nutritionally and important local crops, the faster Africa will generate its future African innovators. Here, we discuss the contribution of plant biotechnology to a transformative African agriculture that combines intensification of land productivity and environmental sustainability

Policy options of agricultural biotechnology R&D in Sub-Saharan Africa: key issues and aspects

This paper reviews the status of Agricultural Biotechnology in Sub-Saharan Africa. It addresses the potential economic benefits to Sub-Saharan Africa and the effect biotechnology policies may have on growth, production and poverty reduction. The extent to which agricultural biotechnology will compound or mitigate the constraints faced by smallholders/subsistence farmers is also discussed. The status of crop biotechnology research worldwide is reviewed and the influence of intellectual property rights (IPRs) and market concentration on the development and diffusion of biotechnology in Sub-Saharan Africa is analyzed. The paper also explores the potential of public-private partnerships and recommends policy measures and investments that could focus more biotechnology research on the problems of the poor and alleviate some of the concerns about the impacts of biotechnology.Policy Options; Intellectual Property; Biotechnology; Sub-Saharan Africa; Technology Diffusion

CONCENTRATION AND TECHNOLOGY IN AGRICULTURAL INPUT INDUSTRIES

Consolidation in the agricultural biotechnology industry can both enhance and dampen market competition. This report examines the causes and consequences of industry consolidation and its effect on market efficiency. In some cases, concentration realizes economies of scale, which can improve market efficiency by driving down production costs. The protection of intellectual property rights is integral to the agricultural biotechnology marketplace, stimulating research and development, investment, and the development of substitute markets. However, excessively broad intellectual property rights can hinder the market for innovation. Recent data on mergers, acquisitions, and strategic collaborations in the agricultural biotechnology industry, as well as the emergence of "life science" conglomerates, indicate some level of consolidation. However, the move by some companies to divest their seed operations calls into question the long-term viability of these conglomerates.industry concentration, consolidation, biotechnology, market efficiency, market power, intellectual property rights, agricultural input industries, mergers, acquisitions, Agribusiness, Industrial Organization,