Affiliation:
1. Center for Agro‐Food Economics and Development (CREDA‐UPC‐IRTA) Parc Mediterrani de la Tecnologia, Edifici ESAB Castelldefels Spain
2. Agribusiness Research Group Universidad del Bío‐Bío Chillán Chile
3. AgResearch Christchurch New Zealand
Abstract
AbstractThis study examined the relationship between public research and development (R&D) investment and agricultural productivity growth in Chile during the 1964–2017 period. To achieve this objective, we used a combined approach based on accounting and econometric measures. The results indicated that agricultural productivity grew at an annual average rate of 2.11%. Additionally, the empirical findings show a positive and significant relationship between public R&D investment and agricultural productivity. Furthermore, the cost–benefit analysis reveals a high return (15%–21%) to public R&D resources, which may have contributed to enhancing the productivity performance of Chile's agricultural sector. In this regard, our findings suggest that agricultural R&D spending has been profitable in recent decades and that a higher allocation of R&D resources is justifiable. [EconLit Citations: C22, Q14, Q16].
Subject
Economics and Econometrics,Agronomy and Crop Science,Animal Science and Zoology,Geography, Planning and Development,Food Science