Research on Global Agricultural Productivity Growth

Description

Over the past half century or so, hundreds of studies have been published reporting measures of agricultural productivity, the effects of agricultural research and development (R&D) on agricultural innovation and productivity patterns, and the resulting social payoffs to investments in agricultural R&D. This book “Research on Global Agricultural Productivity Growth” summarizes and interprets the main findings from that body of work. Some emphasis is placed on the implications of the different methods used by economists for their findings about research impacts. This book contains a review of the literature on the role of agricultural research and development in fostering innovation and productivity in agriculture. This book seeks to clarify concepts and terminology used in the area, provide a critical assessment of approaches found in the literature, report main results, and draw inferences. A key finding is that the social rate of return to investments in agricultural R&D has been generally high. Specific findings differ depending on methods and modelling assumptions, particularly assumptions concerning the research lag distribution, the nature of the research-induced technological change, and the nature of the markets for the affected commodities.