Skip to main content Accessibility help
×
Home

Valuing State-Level Funding for Research: Results for Florida

  • Charles B. Moss (a1)

Abstract

This study analyzes the value of agricultural research to Florida by examining the effect of research spending on agricultural productivity, as measured by a total factor productivity index, and profitability, as measured by net farm income. Results suggest that research expenditures do increase agricultural productivity in the state. However, agricultural productivity does not affect net cash income. Further, the economic rents to the productivity gains do not accrue to land values. Instead, the economic value of research innovations accrues more to consumers than to producers. Thus, consumers are the ultimate beneficiaries of agricultural research in Florida, thereby justifying public funding for agricultural research.

Copyright

References

Hide All
Abramovitz, M.Catching Up, Forging Ahead, and Falling Behind.Journal of Economic History 46(1986):385406.
Alston, J.M., Norton, G.W., and Pardey, P.G.. Science Under Scarcity: Principles and Practice for Agricultural Research Evaluation and Priority Setting. New York: CAB International, 1998.
Baker, J.B., and Bresnahan, T.F.. “The Gains from Merger or Collusion in Product-Differentiated Industries.Journal of Industrial Economics 33,4(1985):427-44.
Ball, V.E., Butault, J.P., and Nehring, R.F.. “United States Agriculture, 1960-96: A Multilateral Comparison of Total Factor Productivity.” Agricultural Productivity: Measurement and Sources of Growth. Ball, V.E. and Norton, G.W.. eds., pp. 251-76. Boston: Kluwer Academic Publishers, 2002.
Ball, V.E., Hallahan, C., and Nehring, R.. “Convergence of Productivity: An Analysis of the Catch-Up Hypothesis within a Panel of States.American Journal of Agricultural Economics 86,5(2004):1315-21.
Engle, R.F., and Granger, C.W.J.Cointegration and Error Correction: Representation, Estimation and Testing.Econometrica 55,2(1987): 251-76.
Granger, C.W.J., and Newbold, P.. “Spurious Regressions in Econometrics.Journal of Econometrics 26,2(1974):1045-66.
Griliches, Z.Measuring Inputs in Agriculture: A Critical Survey.Journal of Farm Economics 42,5(1960):1411-26.
Hamilton, J.D.Time Series Analysis. Princeton, NJ: Princeton University Press, 1994.
Huang, K.S., and Lin, B.H.. “Estimation of Food Demand and Nutrient Elasticity from Household Survey Data.” Washington, DC: U.S. Department of Agriculture, Economic Research Service, Technical Bulletin 1887, 2000.
Huffman, W.E., and Evenson, R.E.. “New Econometric Evidence on Agricultural Total Factor Productivity Determinants: Impact of Funding Sources.” Working Paper 03029, Department of Economics Working Paper Series, Iowa State University, Ames, IA, December 2003.
Huffman, W.E., McCunn, A., and Xu, J.. “Public Agricultural Research Expenditures with an Agricultural Productivity Emphasis: Data for 48 States, 1927-95.” Iowa State University Department of Economics Staff Paper, Ames, IA, 2001.
Johansen, S.Statistical Analysis of Cointegrating Vectors.Journal of Economic Dynamics and Control 12,2/3(1988):231-54.
Just, R.E., Hueth, D.L., and Schmitz, A.. The Welfare Economics of Public Policy. Northampton, MA: Edward Elgar Publishing, 2004.
Krätzig, M.The Software J Multi.” Applied Time Series Econometrics. Lütkepohl, H. and Krätzig, M., eds. New York: Cambridge University Press, 2004.
Moss, C.B.The Cost Price Squeeze in Agriculture: An Application of Cointegration.Review of Agricultural Economics 14,2(1992):209-17.
Ouliaris, S., and Philips, P.C.B.. COINT 2.0a: Gauss Procedures for Cointegrated Regressions. 1997.
Scheffman, D.T., and Spiller, P.T.. “Geographic Market Definition under the U.S. Department of Justice Merger Guidelines.Journal of Law and Economics 30,1(1987):123-47.
U.S. Department of Agriculture—Economic Research Service [USDA/ERS]. Farm Income Data. Internet site: http://www.ers.usda.gov/farmincome/ (Accessed March 17, 2004a).
U.S. Department of Agriculture—Economic Research Service [USDA/ERS]. Farm Balance Sheet Data. Internet site: http://www.ers.usda.gov/data/farmbalancesheet/ (Accessed March 17, 2004b).

Keywords

Valuing State-Level Funding for Research: Results for Florida

  • Charles B. Moss (a1)

Metrics

Full text views

Total number of HTML views: 0
Total number of PDF views: 0 *
Loading metrics...

Abstract views

Total abstract views: 0 *
Loading metrics...

* Views captured on Cambridge Core between <date>. This data will be updated every 24 hours.

Usage data cannot currently be displayed