Abstract
AbstractNonparametric productivity analysis is extended by modeling technical progress as a function of public and private research expenditures. Results indicate that 30‐year lags are required to fully capture the effects of public research expenditures on U.S. agricultural productivity. Compared to public research, private research has a stronger influence on farm productivity in the short term but a smaller influence in the longer term. The internal rate of return is 0.28 for public research and 0.17 for private research.
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