Public inputs and dynamic producer behavior: endogenous growth in U.S. agriculture

This paper is an attempt to understand the impact of public RD (2) positive effect of additional units of public inputs on the long-run demand for private capital; and (3) negative impact of public inputs on cost. They are tested using two estimation procedures on two data sets for U.S. agriculture....

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Detalles Bibliográficos
Autores principales: Onofri, Alejandro Oscar, Fulginiti, Lilyan E.
Formato: Articulo Preprint
Lenguaje:Inglés
Publicado: 2008
Materias:
Ciencias Económicas
Non-rival inputs
Endogenous growth
AK models
Dynamics
Returns to public inputs
U.S. agriculture
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/127323
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-127323
record_format dspace
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
Non-rival inputs
Endogenous growth
AK models
Dynamics
Returns to public inputs
U.S. agriculture
spellingShingle Ciencias Económicas
Non-rival inputs
Endogenous growth
AK models
Dynamics
Returns to public inputs
U.S. agriculture
Onofri, Alejandro Oscar
Fulginiti, Lilyan E.
Public inputs and dynamic producer behavior: endogenous growth in U.S. agriculture
topic_facet Ciencias Económicas
Non-rival inputs
Endogenous growth
AK models
Dynamics
Returns to public inputs
U.S. agriculture
description This paper is an attempt to understand the impact of public RD (2) positive effect of additional units of public inputs on the long-run demand for private capital; and (3) negative impact of public inputs on cost. They are tested using two estimation procedures on two data sets for U.S. agriculture. One, covering the period 1948–1994, developed by USDA, the other, covering the period 1926–1990, from Thirtle et al. Maximum likelihood estimates do not conform to the regularity and behavioral properties of the economic model rendering them unusable for testing these hypotheses. Bayesian estimates, although not totally satisfactory, do not reject the hypotheses after prior imposition of some of the regularity conditions. This supports the notion of an important role for public inputs on the rapid and sustained growth of the sector. We calculate that, on average, one additional dollar spent on public R&D stock reduces private cost by $6.5, implying a return on these public expenses of 190%.
format Articulo
Preprint
author Onofri, Alejandro Oscar
Fulginiti, Lilyan E.
author_facet Onofri, Alejandro Oscar
Fulginiti, Lilyan E.
author_sort Onofri, Alejandro Oscar
title Public inputs and dynamic producer behavior: endogenous growth in U.S. agriculture
title_short Public inputs and dynamic producer behavior: endogenous growth in U.S. agriculture
title_full Public inputs and dynamic producer behavior: endogenous growth in U.S. agriculture
title_fullStr Public inputs and dynamic producer behavior: endogenous growth in U.S. agriculture
title_full_unstemmed Public inputs and dynamic producer behavior: endogenous growth in U.S. agriculture
title_sort public inputs and dynamic producer behavior: endogenous growth in u.s. agriculture
publishDate 2008
url http://sedici.unlp.edu.ar/handle/10915/127323
work_keys_str_mv AT onofrialejandrooscar publicinputsanddynamicproducerbehaviorendogenousgrowthinusagriculture
AT fulginitililyane publicinputsanddynamicproducerbehaviorendogenousgrowthinusagriculture
bdutipo_str Repositorios
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