Public and private investment to enhance agricultural output and revenue can be classified as either supply- or demand-oriented. Supply- oriented investments have concentrated on research to improve agricultural productivity. Demand-oriented investments, on the other hand, have attempted to shift the demand schedules for agricultural cooEJodities through promotional activities, thereby enhancing price and stimulating output. While researchers have long debated the sociological implications, economic impacts, and returns to supply-oriented investments (see, for example, (_^) i C4), (2), Cl), (12)» and (13)3,1' less concern has been directed at the farm-level impact and returns to demand-oriented investments.
This paper was published in Agribusiness, Vol. 1, No. 3, pp., 243-263
Williams, Gary W., "Returns To U.S. Soybean Export Market Development" (1983). Economic Staff Paper Series. 48.