The Dynamic Implication of Agricultural Research and Development Investment for Economic Development
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This paper presents some evidence of a positive effect of Agriculture R&D
investment on economic growth in general dynamic setting using annual data
for 57 developing countries for the period 1981-2010. The potential
endogeneity of Research and Development Investment is also addressed to
identify causal effect using GMM Style internal instrument that
successfully pass various validity tests. Our analysis separates the growth
effect and the level effect of R&D investment. The result appears to be
robust to various proxies for Agriculture R&D investment. The finding
suggests the intensification of investment in research and development in
developing countries to boost agricultural productivity and economic
growth.