Agricultural Economic Report No. (AER-735) 7 pp

May 1996

Agricultural Research and Development: Public and Private Investments Under Alternative Markets and Institutions

Empirical studies indicate high economic returns from the public's investment in agricultural research. Yet, even as society is placing broader demands on the research system, taxpayer support for public agricultural research is unlikely to increase. Stronger ownership rights for intellectual property have increased incentives for private investment in agricultural research, but key elements still require direct public support. The USDA is developing new mechanisms to build a more effective public-private partnership in agricultural research.

Keywords: agricultural research, CRADA's, intellectual property rights, research policy, returns to research, technology transfer

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