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- W1434156795 abstract "This chapter uses 1980-2004 state panel data to assess the impact of local public goods (public agricultural R&D, extension and road infrastructure) on US agricultural productivity growth. It finds that the impact of own-state R&D was greatly enhanced by R&D investments in other states and regions through knowledge spill-ins. Returns to local R&D were also higher when it was coupled with greater local extension activity and road infrastructure. The internal rate of return to public R&D is taken as a measure of the contribution of research expenditures to productivity growth. The estimated local rate of return (taking into account only in-state benefits) was around 13% per year. The social rate of return (which takes into account not only benefits to the state where the R&D was conducted but also benefits of spillovers to other states) was found to be around 45%. Moreover, the levels of R&D spill-ins, extension and road infrastructure were found to play a significant role in explaining the differences in productivity growth rates among the states and regions." @default.
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- W1434156795 date "2012-01-01" @default.
- W1434156795 modified "2023-10-11" @default.
- W1434156795 title "Accounting for the impact of local and spill-in public research, extension and roads on US regional agricultural productivity, 1980-2004." @default.
- W1434156795 doi "https://doi.org/10.1079/9781845939212.0013" @default.
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