AN EMPIRICAL ANALYSIS OF PUBLIC AND PRIVATE SPILLOVERS WITHIN THE CANOLA BIOTECH INDUSTRY
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The study uses firm-specific data in the biotech canola industry to empirically examine research spillovers among public and private firms at the level of research output, research sales revenue, and research social revenue. The non-pecuniary spillovers that are examined include basic research, human capital/ knowledge (as measured through other-firm expenditures) and genetics (as measured through yields of other-firms). The results provide strong empirical evidence of several research spillovers in the biotech crop research industry such as: basic and applied public research creates a positive spillover for private firms at all levels; applied expenditure within-group reduces other-firm revenue while between-group expenditure increases revenue; genetic spillovers within-group have a positive impact on yield but tend to have a negative impact on firm revenue.