Revisiting rates of return to agricultural R&D investment
This study proposes the use of partial least squares to determine the key parameters of the perpetual inventory method model of capital stock as a new approach to calculate research and development (R&D) knowledge stocks and R&D elasticities. This approach avoids most of the major problems encounter...
| Main Authors: | , |
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| Format: | Artículo preliminar |
| Language: | Inglés |
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International Food Policy Research Institute
2018
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| Online Access: | https://hdl.handle.net/10568/145696 |
| _version_ | 1855538952300134400 |
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| author | Nin-Pratt, Alejandro Magalhaes, Eduardo |
| author_browse | Magalhaes, Eduardo Nin-Pratt, Alejandro |
| author_facet | Nin-Pratt, Alejandro Magalhaes, Eduardo |
| author_sort | Nin-Pratt, Alejandro |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | This study proposes the use of partial least squares to determine the key parameters of the perpetual inventory method model of capital stock as a new approach to calculate research and development (R&D) knowledge stocks and R&D elasticities. This approach avoids most of the major problems encountered in the literature that lead to obtaining very high and implausible rates of return to agricultural R&D...Using this approach, we obtain an average R&D elasticity for low- and middle-income (LM) countries of 0.23 and an average rate of return to R&D investment of 6.0 percent, bigger than the average discount rate of 4.2 percent for these countries. Results show that 60 percent of LM countries in our sample are underinvesting in agricultural R&D, as they can get higher returns by investing in this activity than in activities that return the social discount rate. |
| format | Artículo preliminar |
| id | CGSpace145696 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2018 |
| publishDateRange | 2018 |
| publishDateSort | 2018 |
| publisher | International Food Policy Research Institute |
| publisherStr | International Food Policy Research Institute |
| record_format | dspace |
| spelling | CGSpace1456962025-11-06T07:21:40Z Revisiting rates of return to agricultural R&D investment Nin-Pratt, Alejandro Magalhaes, Eduardo models investment agricultural research research agriculture elasticities productivity returns knowledge This study proposes the use of partial least squares to determine the key parameters of the perpetual inventory method model of capital stock as a new approach to calculate research and development (R&D) knowledge stocks and R&D elasticities. This approach avoids most of the major problems encountered in the literature that lead to obtaining very high and implausible rates of return to agricultural R&D...Using this approach, we obtain an average R&D elasticity for low- and middle-income (LM) countries of 0.23 and an average rate of return to R&D investment of 6.0 percent, bigger than the average discount rate of 4.2 percent for these countries. Results show that 60 percent of LM countries in our sample are underinvesting in agricultural R&D, as they can get higher returns by investing in this activity than in activities that return the social discount rate. 2018-04-12 2024-06-21T09:04:53Z 2024-06-21T09:04:53Z Working Paper https://hdl.handle.net/10568/145696 en https://doi.org/10.2499/p15738coll2.134985 Open Access application/pdf International Food Policy Research Institute Nin-Pratt, Alejandro; and Magalhaes, Eduardo. 2018. Revisiting rates of return to agricultural R&D investment. IFPRI Discussion Paper 1718. Washington, DC: International Food Policy Research Institute (IFPRI). https://hdl.handle.net/10568/145696 |
| spellingShingle | models investment agricultural research research agriculture elasticities productivity returns knowledge Nin-Pratt, Alejandro Magalhaes, Eduardo Revisiting rates of return to agricultural R&D investment |
| title | Revisiting rates of return to agricultural R&D investment |
| title_full | Revisiting rates of return to agricultural R&D investment |
| title_fullStr | Revisiting rates of return to agricultural R&D investment |
| title_full_unstemmed | Revisiting rates of return to agricultural R&D investment |
| title_short | Revisiting rates of return to agricultural R&D investment |
| title_sort | revisiting rates of return to agricultural r d investment |
| topic | models investment agricultural research research agriculture elasticities productivity returns knowledge |
| url | https://hdl.handle.net/10568/145696 |
| work_keys_str_mv | AT ninprattalejandro revisitingratesofreturntoagriculturalrdinvestment AT magalhaeseduardo revisitingratesofreturntoagriculturalrdinvestment |