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The Productivity of Agricultural Research and Extension Expenditures in the Southeast

Published online by Cambridge University Press:  05 September 2016

Larry L. Bauer  and
Curtis R. Hancock
Larry L. Bauer
Affiliation:
Department of Agricultural Economics, University of Tennessee, Knoxville University of Kentucky and former Fellow, University of Tennessee
Curtis R. Hancock
Affiliation:
Department of Agricultural Economics, University of Tennessee, Knoxville University of Kentucky and former Fellow, University of Tennessee
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Extract

With current high food prices and increasing talk about a world food crisis, there is renewed interest in production agriculture and in the allocation of resources to agriculture. It would seem, therefore, that estimates of agricultural production functions and their associated marginal products would be useful to those responsible for resource allocation to the agricultural sector. This paper intended to give policymakers information on which to base decisions relative to the impact of investments in agricultural research and extension activities. The level of appropriations to such activities can be considered a proxy measure of technology. Most researchers familiar with this area feel that the total effect of new technology on production does not occur at one momemt in time, but may be spread over a number or years. Considering this, a distributed lag on research and extension expenditures was incorporated into the production function estimated in this paper.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 7 , Issue 2 , December 1975 , pp. 117 - 122
Copyright
Copyright © Southern Agricultural Economics Association 1975

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References

[1] Council of Economic Advisers. Economic Report of the President, U.S. Government Printing Office, Washington, D.C., 1969.Google Scholar
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