NRU :: Browsing by Author "Elliott, Howard"

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Setting Meaningful Investment Targets in Agricultural Research and Development: Challenges, Opportunities and Fiscal Realities
(Economic and Social Development Department, 2009) Beintema, Nienke; Elliott, Howard
The rate of growth in agricultural research and development (R&D) investment has been declining globally while a large number of developing countries have experienced negative growth rates over the past decade. Stagnating investment in sub-Saharan African agricultural research is particularly worrisome. General underinvestment is evidenced by: 1) the continuing high rates of return to research demonstrated in studies at the commodity level; and 2) by macroeconomic studies showing that the relevant Millennium Development Goals (MDGs) cannot be reached without a doubling or even tripling of research investment given estimated growth-poverty-reduction elasticities, Also of concern is new evidence that a change in the composition of research away from productivity-enhancement at the farm level is statistically related to a decline in the growth of agricultural productivity in advanced economies below historical levels. This trend may be considered another form of underinvestment that reduces potential spillovers in the future. Policy makers are reminded that growth in agricultural productivity provides the consumption, savings and taxes needed for development and attainment of social goals.