Campus Units

Economics

Document Type

Article

Publication Version

Published Version

Publication Date

10-2003

Journal or Book Title

Economic Development and Cultural Change

Volume

52

Issue

1

First Page or Article ID Number

1

Last Page

21

DOI

10.1086/380585

Abstract

Most observers have come to agree that Research and Development (R&D) is fundamental to the innovations that take place in advanced countries and that drive growth and development around the world. This is equally true for agricultural R&D, which has substantially increased the supply of food and fiber over time. Given the evident importance of agricultural R&D, we look at the forces that determine the amount of privately funded research in this vital sector using a sample of European countries. We construct indicators of private incentives, property rights, and publicly funded research in the various countries. Private research has grown with unusual speed in recent years and offers the prospect of advances in the quality of agricultural goods as well as reductions in their costs. Furthermore, considerable interest exists in knowing how changes in private and public research expenditures are related empirically; for example, are they complements or substitutes?1 If they are substitutes, then additional private agricultural R&D expenditures may not result in larger total agricultural research expenditures.

Comments

This article is from Economic Development and Cultural Change 52 (2003): 1, doi: 10.1086/380585. Posted with permission.

Copyright Owner

The University of Chicago

Language

en

File Format

application/pdf