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Research on agricultural research

rates of return to agricultural research in Sweden

Renborg, Ulf (2010). Research on agricultural research. Uppsala: (NL, NJ) > Dept. of Economics, Sveriges lantbruksuniversitet. Report / Swedish University of Agricultural Sciences (SLU), Department of Economics ; 166
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Abstract

A Cobb-Douglas type production function is estimated for the Swedish agricultural sector over the period 1944/45 - 1986/87. Total production of the sector is the dependent variable. Public research and advisory services are introduced as independent variables together with labour, land, variable capital and inputs bought from other sectors and a yield variable. Research is introduced with lags from 6 to 24 years from research inputs to effects on the total sector production. Research lags of 14-18 years give best estimation quality. Elasticities of total production per farm related to public research are estimated to lie between 0,06 and 0, 10 for the total period. Production elasticities related to advisory services give too uncertain results to be closer analyzed. Marginal value products, MVP, related to research are calculated to 7-12 as an average for the period. IRR, Internal rates of return to public research reach 13 to 17 per cent per year above price level change over the lag period of 16-18 years. These MVP:s and internal rates of return are calculated for total production at national prices, "as the farmers see them". Approximate estimates of these values for production at world market prices give MVP:s of 4-8 and IRR of 10 to 14 per cent over price level change.

Authors/Creators:Renborg, Ulf
Title:Research on agricultural research
Subtitle:rates of return to agricultural research in Sweden
Series/Journal:Report / Swedish University of Agricultural Sciences (SLU), Department of Economics (1401-405X)
Year of publishing :2010
Depositing date:4 April 2010
Number:166
Number of Pages:53
Place of Publication:Uppsala
Publisher:Department of Economics, Swedish University of Agricultural Sciences
ISSN:1401-405X
Language:English
Publication Type:Report
Full Text Status:Public
Agris subject categories.:E Economics, development, and rural sociology > E10 Agricultural economics and policies
Subjects:(A) Swedish standard research categories 2011 > 4 Agricultural Sciences > 405 Other Agricultural Sciences > Other Agricultural Sciences not elsewhere specified
(A) Swedish standard research categories 2011 > 5 Social Sciences > 502 Economics and Business > Economics
Agrovoc terms:research projects, productivity, agriculture
Keywords:agricultural research, MVP, IRR, productivity, impact of research, Sweden
URN:NBN:urn:nbn:se:slu:epsilon-e-3356
Permanent URL:
http://urn.kb.se/resolve?urn=urn:nbn:se:slu:epsilon-e-3356
ID Code:13254
Faculty:NL - Faculty of Natural Resources and Agricultural Sciences (until 2013)
Department:(NL, NJ) > Dept. of Economics
Deposited By: Lennart Wiborgh
Deposited On:04 Apr 2016 13:34
Metadata Last Modified:22 Apr 2016 09:46

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