Impact of Biotechnology on Plant Breeding
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The application of modern biotechnology to plant breeding is considered to be more efficient and quicker than conventional breeding techniques in the development of new and more resilient crop varieties. To test the impact that biotechnology is having on a industrial plant breeding activities, we relate firm level Plant Variety Protection Certificate (PVPC) applications to corresponding expenditure on research and development (R&D), agricultural biotechnology patents applications, field trials of genetically modified crops, firm structure, as well as industry specific characteristics. Regression results indicate agbiotech activities are directly related to PVP applications, hence the creation of new plant varieties.