Agricultural Research, Productivity, and Food Commodity Prices

Alston, Julian M., Jason M. Beddow, and Philip G. Pardey

from ARE Update Vol. 12, No. 2, Nov/Dec, 2008

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Abstract

The long-term downward trend in real food prices reflects agricultural productivity growth fueled by public and private investments in agricultural R&D, among other things. Slower rates of agricultural productivity growth since 1990 imply a slower rate of decline in real food prices. An acceleration in agricultural R&D spending may be required to restore productivity growth rates and prevent a longer-term food price crisis.

Keywords

agricultural R&D, research and development, productivity

Citation

Alston, Julian M., Jason M. Beddow, and Philip G. Pardey. "Agricultural Research, Productivity, and Food Commodity Prices." ARE Update 12(2)(2008):11-14. University of California Giannini Foundation of Agricultural Economics.
https://giannini.ucop.edu/publications/are-update/issues/2008/12/2/agricultural-research-pro/