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Agricultural R&D policy under climate and economic uncertainty

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  • 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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    References listed on IDEAS

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    1. 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).
    2. 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.
    3. 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.
    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).
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