ISSN:
1573-0441
Keywords:
Agricultural research
;
Rates of returns
;
Chinese agriculture
;
Production function
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Abstract This article measureseconomic returns to research investment in Chinese agricultureusing the production function approach. A stock-of-knowledgevariable constructed from the past research investment is directlyincluded in the production function as an explanatory variablein the production function. Improved rural infrastructure, irrigation,and education are also included as explanatory variables to avoidthe upward bias in the estimates of returns to agricultural research.A two-way variable coefficients technique is used in the estimationto reduce estimation biases due to the remaining measurementand omitted variables problems. Sensitivity analyses are conductedto test the effects of various lag structures on the return estimates.The results show that rates of return to research investmentin Chinese agriculture are high, ranging from 36% to 90% in1997, and the rates are increasing over time.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1023/A:1007803108805
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