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Efficiency and Equity in Public Research: Rice Breeding in Japan's Economic Development

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  • Masakatsu Akino
  • Yujiro Hayami

Abstract

Research contributes to the public good and public support is required in order to attain a socially optimum level of investment in research. However, the extremely high rate of returns to rice research in Japan provides evidence that an underinvestment in agricultural research is typical. Financing rice research out of government tax revenue is rationalized in terms of its contribution to the national goal of economic development.

Suggested Citation

  • Masakatsu Akino & Yujiro Hayami, 1975. "Efficiency and Equity in Public Research: Rice Breeding in Japan's Economic Development," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(1), pages 1-10.
  • Handle: RePEc:oup:ajagec:v:57:y:1975:i:1:p:1-10.
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    File URL: http://hdl.handle.net/10.2307/1238834
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