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Agricultural R&D policy under climate and economic uncertainty

Author

Listed:
  • Cai, Yongyang
  • Golub, Alla
  • Hertel, Thomas
  • Judd, Kenneth

Abstract

Since the 1950s, increased agricultural productivity has allowed food supply growth to outpace demand on a global scale, resulting in a downward trend in world prices. Investments into agricultural research and development (R&D) have been the foundation for this achievement. Optimal R&D spending depends on future population, income and climate change, all of which are highly uncertain. This study offers a dynamic framework for analyzing optimal agricultural R&D spending in 21st century factoring in uncertainties in these drivers.

Suggested Citation

  • Cai, Yongyang & Golub, Alla & Hertel, Thomas & Judd, Kenneth, 2016. "Agricultural R&D policy under climate and economic uncertainty," Conference papers 332729, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    • Handle: RePEc:ags:pugtwp:332729
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    File URL: https://ageconsearch.umn.edu/record/332729/files/7953.pdf
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    References listed on IDEAS

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    1. Hertel, Thomas W., 2015. "The Challenges of Sustainably Feeding a Growing Planet," 2015 Conference (59th), February 10-13, 2015, Rotorua, New Zealand 202525, Australian Agricultural and Resource Economics Society.
    2. Julian M. Alston & Jennifer S. James & Matthew A. Andersen & Philip G. Pardey, 2010. "Research Lags and Spillovers," Natural Resource Management and Policy, in: Persistence Pays, chapter 0, pages 239-269, Springer.
    3. von Braun, Joachim & Fan, Shenggen & Meinzen-Dick, Ruth & Rosegrant, Mark W. & Pratt, Alejandro Nin, 2008. "International agricultural research for food security, poverty reduction, and the environment: What to expect from scaling up CGIAR investments and “Best Bet” programs," Issue briefs 53, International Food Policy Research Institute (IFPRI).
    4. Pardey, Philip G. & Beintema, Nienke M. & Dehmer, Steven & Wood, Stanley, 2006. "Agricultural research: a growing global divide?," Food policy reports 17, International Food Policy Research Institute (IFPRI).
    Full references (including those not matched with items on IDEAS)

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