A Note on the Measurement of Spillovers of Agricultural Research Results
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Three measures of agricultural research
spillovers considered entail estimates based on
(l) level of agricultural research expenditures,
(2) marginal products of agricultural research
and extension expenditures, and (3) marginal products
of agricultural research and extension expenditures
weighted by the level of agricultural
research expenditures.
The methods produce diverse spillovers but
results indicate that spillovers generally exceed
regional benefits attributable to a region's investment
in agricultural research and extension.
Also, ratios of spillovers to regional benefits
exceed ratios of federal to state expenditures on
agricultural research suggesting potential social
benefits from additional financial support of
agricultural research by the federal government.