It is often argued that public support of agricultural research is inadequate. However, the empirical papers that support this hypothesis rarely reflect formal behavioral theory capable of explaining this phenomenon. This paper presents a theory that explains underfunding, namely, that funding...

This paper presents case-study results and aggregate data to evaluate the impact of research in African agriculture. Of 32 case studies, all but eight report annual returns over 20% and many are far higher, with most gains arising in the late 1980s and 1990s. Spurred by policy reforms and...

The nature of the observed market structure and R&D competition in genomics research is used as the basis for a comparative analysis of research under a mixed oligopoly, pure oligopoly and monopoly when the timing of the innovation outcome is uncertain (as in an R&D race), the winner-take-all...

Reform and privatization of administratively controlled marketing parastatals is always a thorny issue. Reform of public coffee parastatals is one of the most fascinating and trickiest exercises in free-market development. Coffee, a heterogenous, experience good, undergoes several processing...

Reform and privatization of administratively controlled marketing parastatals is always a thorny issue. Reform of public coffee parastatals is one of the most fascinating-and trickiest-exercises in free-market development. Coffee, a heterogenous, experience good, undergoes several processing...

This document is the technical annex to the full paper “The Effects of Biotechnology Policy on Trade and Growth,” which is available separately.

The opposing US and EU positions regarding genetically modified crops threaten to polarize the world into countries who accept biotechnology and countries that don't. The paper investigates the emergence of 'clubs' of countries that adopt GM similar standards. The paper explains the emerging...