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Public and Private Returns from Joint Venture Research: An Example from Agriculture

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  • Alvin Ulrich
  • Hartley Furtan
  • Andrew Schmitz

Abstract

Public research institutions are turning increasingly to the private sector for additional financial support. Such a trend, in the short run, lessens the need for public research expenditures, but may, in the long run, prove to be very costly to the economy as a whole. This is because private funding increases the chance that the direction of research will shift so that private benefits are enhanced. Such a shift is especially costly if public research funds are then not forthcoming that would have the potential of producing the maximum level of benefits to the economy as a whole. A case study of Canadian barley research is used to illustrate this problem.

Suggested Citation

  • Alvin Ulrich & Hartley Furtan & Andrew Schmitz, 1986. "Public and Private Returns from Joint Venture Research: An Example from Agriculture," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 101(1), pages 103-129.
    • Handle: RePEc:oup:qjecon:v:101:y:1986:i:1:p:103-129.
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    Citations

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    Cited by:

    1. Huffman, Wallace E., 1999. "New Insights on the Organization of Agricultural Research: Theory and Evidence for Western Developed Countries," ISU General Staff Papers 199907010700001319, Iowa State University, Department of Economics.
    2. Schmitz Andrew, 2004. "Controversies Over the Adoption of Genetically Modified Organisms: An Overview of the Special Issue," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 2(2), pages 1-10, May.
    3. Fuglie, Keith & Ballenger, Nicole & Rubenstein, Kelly Day & Klotz, Cassandra & Ollinger, Michael & Reilly, John & Vasavada, Utpal & Yee, Jet, 1996. "Agricultural Research and Development: Public and Private Investments Under Alternative Markets and Institutions," Agricultural Economic Reports 262031, United States Department of Agriculture, Economic Research Service.
    4. Wallace E. Huffman & Richard E. Just, 1999. "The organization of agricultural research in western developed countries," Agricultural Economics, International Association of Agricultural Economists, vol. 21(1), pages 1-18, August.
    5. Russell, N.P. & Thirtle, C.G., 1988. "Measuring the Contribution of Publicly Funded Research and Development Expenditure to Increasing UK Oilseed Rape Yields," Manchester Working Papers in Agricultural Economics 232796, University of Manchester, School of Economics, Agricultural Economics Department.
    6. Thirtle, C. & Bottomley, P., 1988. "Explaining Total Factor Productivity Change: Returns to R & D in U.K. Agricultural Research," Manchester Working Papers in Agricultural Economics 232809, University of Manchester, School of Economics, Agricultural Economics Department.
    7. Huffman, Wallace E., 1999. "Finance, Organization, and Impacts of U.S. Agricultural Research: Future Prospects," ISU General Staff Papers 199903010800001315, Iowa State University, Department of Economics.
    8. Pray, Carl E. & Umali-Deininger, Dina, 1998. "The private sector in agricultural research systems: Will it fill the gap?," World Development, Elsevier, vol. 26(6), pages 1127-1148, June.
    9. Ornella Wanda Maietta, 2014. "Innovation Systems Research in the Italian Food Industry," CSEF Working Papers 358, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    10. Wright, Brian D. & Pardey, Philip G. & Nottenburg, Carol & Koo, Bonwoo, 2007. "Agricultural Innovation: Investments and Incentives," Handbook of Agricultural Economics, in: Robert Evenson & Prabhu Pingali (ed.), Handbook of Agricultural Economics, edition 1, volume 3, chapter 48, pages 2533-2603, Elsevier.
    11. Smale, Melinda & Heisey, Paul W., 1997. "Grain Quality and Crop Breeding when Farmers Consumer their Grain: Evidence from Malawi," 1997 Occasional Paper Series No. 7 198058, International Association of Agricultural Economists.
    12. Alston, Julian M. & Pardey, Philip G. & Smith, Vincent H., 1998. "Financing agricultural R&D in rich countries: what's happening and why," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 42(1), pages 1-32.
    13. Michael Harris & Alan Lloyd, 1991. "The Returns to Agricultural Research and the Underinvestment Hypothesis ‐ A Survey," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 24(3), pages 16-27, July.
    14. Mayer, Holly & Furtan, W. H., 1999. "Economics of transgenic herbicide-tolerant canola: The case of western Canada," Food Policy, Elsevier, vol. 24(4), pages 431-442, August.
    15. Edwards, Geoff W., 1987. "Evaluating the Research Benefits for Traded Commodities," Evaluating Agricultural Research and Productivity, Proceedings of a Workshop, Atlanta, Georgia, January 29-30, 1987, Miscellaneous Publication 52 50025, University of Minnesota, Agricultural Experiment Station.
    16. Martin, Larry J. & Mayer, Holly & Bouma, Jerry, 2002. "Benefits And Costs Of A Voluntary Wheat Board For The Province Of Alberta," Miscellaneous Publications 18090, George Morris Center.
    17. Brinkman, George L., 2004. "Strategic Policy Issues for Agricultural Research in Canada," CAFRI: Current Agriculture, Food and Resource Issues, Canadian Agricultural Economics Society, issue 5, pages 1-17, May.

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