An appraisal of the effects of demand-increasing research in distorted market

Research output: Journal PublicationsJournal Article (refereed)

3 Citations (Scopus)

Abstract

In this paper economic models are developed for evaluating the size and the distribution of agricultural research benefits in markets distorted by government-induced price policies. In the empirical analysis the results with outcomes for a distorted market are compared with those for a free market. It is reported in the paper that the net benefits to country A from demand-increasing research may be larger or smaller in the presence of a price policy than under free trade, depending on the type of price distortion concerned. An implication of the analysis is that if the net benefits are larger with a free than with a distorted market, economic efficiency accruing to demand-enhancing research may be increased if the government eliminates such distortion.
Original languageEnglish
Pages (from-to)45-58
Number of pages14
JournalEconomic Analysis and Policy
Volume23
Issue number1
DOIs
Publication statusPublished - 1 Mar 1993
Externally publishedYes

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Government
Price policy
Economic efficiency
Empirical analysis
Free market
Research benefits
Free trade
Agricultural research
Price distortions

Cite this

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An appraisal of the effects of demand-increasing research in distorted market. / VOON, Jan Piaw, Thomas.

In: Economic Analysis and Policy, Vol. 23, No. 1, 01.03.1993, p. 45-58.

Research output: Journal PublicationsJournal Article (refereed)

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AB - In this paper economic models are developed for evaluating the size and the distribution of agricultural research benefits in markets distorted by government-induced price policies. In the empirical analysis the results with outcomes for a distorted market are compared with those for a free market. It is reported in the paper that the net benefits to country A from demand-increasing research may be larger or smaller in the presence of a price policy than under free trade, depending on the type of price distortion concerned. An implication of the analysis is that if the net benefits are larger with a free than with a distorted market, economic efficiency accruing to demand-enhancing research may be increased if the government eliminates such distortion.

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