2018, Volume 21, Paper 15
Issues in Measuring Returns from RD&E Investments in the Australian Grains Industry
Kuo Li – School of Agriculture and Food, The University of Melbourne, Parkville.
Ross Kingwell – Australian Export Grains Innovation Centre, South Perth.
Garry Griffith – School of Agriculture and Food, The University of Melbourne, Parkville and Centre for Agribusiness, University of New England, Armidale.
Bill Malcolm – School of Agriculture and Food, The University of Melbourne, Parkville.
Governments and funding agencies are interested in demonstrating the economic impacts of research to justify their investments and to prioritise future research investments. The Grains Research and Development Corporation invests around $200 million annually in a varied portfolio of research in the Australian grains industry. The Corporation does not have access to an industry-wide equilibrium displacement model to help assess likely returns to investments in research, development and extension projects. In this paper the issues involved in developing an industry level model of the Australian grains industry are canvassed.
Key words: grains industry, RD&E, returns to research, equilibrium displacement model.
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