Measuring Public Agricultural Research Capital and Its Contribution to State Agricultural Productivity
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A methodology for measuring public agricultural research capital is developed and
described for the first time, new public agricultural research capital measures for each of the 48
contiguous US states, 1970-1999, are presented, and a new econometric analysis of the contribution
of public agricultural research capital to state agricultural productivity is reported. Public
agricultural research capital across the states is shown to have five different growth patterns, only
one of which is at a constant rate. New TFP results show that public agricultural research capital
contributes significantly to agricultural productivity and is larger than previous estimates. Intrastate
and spillin public agricultural research capital are shown to be complementary, but private
agricultural research capital and public extension are substitutes. The marginal social rate of return
to public agricultural, including significant interstate spillovers, is large which has science policy
implications.