Persistence Pays: U.S. Agricultural Productivity Growth and the Benefits from Public R&D Spending
Springer Science & Business Media, Nov 27, 2009 - Business & Economics - 504 pages
gricultural science policy in the United States has profoundly affected the growth and development of agriculture worldwide, not just in the A United States. Over the past 150 years, and especially over the second th half of the 20 Century, public investments in agricultural R&D in the United States grew faster than the value of agricultural production. Public spending on agricultural science grew similarly in other more-developed countries, and c- lectively these efforts, along with private spending, spurred agricultural prod- tivity growth in rich and poor nations alike. The value of this investment is seldom fully appreciated. The resulting p- ductivity improvements have released labor and other resources for alternative uses—in 1900, 29. 2 million Americans (39 percent of the population) were - rectly engaged in farming compared with just 2. 9 million (1. 1 percent) today— while making food and fiber more abundant and cheaper. The benefits are not confined to Americans. U. S. agricultural science has contributed with others to growth in agricultural productivity in many other countries as well as the Un- ed States. The world’s population more than doubled from around 3 billion in 1961 to 6. 54 billion in 2006 (U. S. Census Bureau 2009). Over the same period, production of important grain crops (including maize, wheat and rice) almost trebled, such that global per capita grain production was 18 percent higher in 2006.
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Research Lags and Spillovers
Models of Research and Productivity
Econometric Estimation and Results
Productivity Patterns and Research Benefits
Interpretation and Synthesis
Interpretation and Assessment of BenefitCost Findings
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4-year geometric aggregate agricultural output agricultural R&D spending Appendix Table attributable average annual percentage base model benefit-cost ratios benefits Chapter columns commodities compared corn Developed dollars econometric effects elasticities estimates extension lag extension spending extension spillovers farm federal Figure Fisher indexes funding gamma distribution GDP deflator Growth Accounting growth rates Huffman and Evenson increased innovations inputs InSTePP data investments knowledge stocks labor lag distribution lag length lag weights linear model livestock logarithmic model measures MFP Growth MFPi,t million Minnesota model rank Northeast Northern Plains own-state research Panel parameters Peak lag percent period productivity growth public agricultural R&D quality-adjusted quantity region research and extension research lag research spending RMSE Root mean squared SAES research SAESs slowdown Sources South Dakota spatial specification spillins spillouts spillover coefficients state-specific tractors trends U.S. agricultural U.S. Agricultural Productivity United value of production variables versus Wyoming