Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/321723 
Year of Publication: 
2021
Citation: 
[Journal:] Bio-based and Applied Economics (BAE) [ISSN:] 2280-6172 [Volume:] 10 [Issue:] 1 [Year:] 2021 [Pages:] 73-86
Publisher: 
Firenze University Press, Florence
Abstract: 
While higher effort in research is advocated for agriculture, there continues to be a lack of measurement of its impact in economic terms, at least in Europe. This paper seeks to assess the economic impact of public agricultural R&D investments in Europe. Different panel models are applied on 16 European countries, by employing productivity and investment data. Results show positive impacts with returns on public R&D investments on agricultural productivity of between 6.5% and 15.2%, varying according to model specifications and computation techniques. These values confirm that research expenditure in agriculture is well justified in economic terms. However, the results are highly dependent on the analytical approach and limited by the paucity of expenditure data. Further research is recommended to take into account the role of other important determinants of impact, such as climate, spill overs and the Common Agricultural Policy (CAP). However, a proper consideration of these variables will first require a major improvement of data availability.
Subjects: 
public R&D investments
agricultural productivity
rate of return
Europe
JEL: 
O33
O47
Q16
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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