Agricultural Research, Productivity, and Food Commodity Prices
Alston, Julian M., Jason M. Beddow, and Philip G. Pardey
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.
agricultural R&D, research and development, productivity
Alston, Julian M., Jason M. Beddow, and Philip G. Pardey. 2008. "Agricultural Research, Productivity, and Food Commodity Prices." ARE Update 12(2): 11-14. University of California Giannini Foundation of Agricultural Economics.