English, Article, Journal or magazine article edition: Building the Knowledge Stock: Lags, Depreciation and Uncertainty in Agricultural R&D Roberto ESPOSTI; Pierpaolo PIERANI

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Bookmark: http://trove.nla.gov.au/version/18778
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Building the Knowledge Stock: Lags, Depreciation and Uncertainty in Agricultural R&​D
Author
  • Roberto ESPOSTI
  • Pierpaolo PIERANI
Physical Description
  • preprint
Notes
  • The search for an appropriate methodology to analyse the relation between R&​D investments and the knowledge stock is the main purpose of the paper. The high estimates of internal rates of return on agricultural R&​D reported in the literature suggest that there are major empirical problems with the traditional attribution of productivity growth to R&​D investments. We model a stochastic gestation lag of research investment and a geometric depreciation of the knowledge stock. This model of knowledge accumulation from R&​D investments outlines the basic parameters underlying the investment lag structure. According to the different types of research project, the approach is applied to public R&​D expenditure in Italian agriculture in order to ascertain the empirical consequences and potential of the model.
  • knowledge stock, lag structure, research and development
  • RePEc:anc:wpaper:145
Language
  • English
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