Impacts of foreign policies on the gains from research and promotion

Jan Piaw, Thomas VOON, G. W. EDWARDS

    Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

    1 Scopus Citations

    Abstract

    This paper compares the direct and indirect effects of rest-of-the-world (ROW) policy on welfare in country A: the direct effect due to the change in world price caused by the policy in the absence of research/promotion-induced shifts in supply/demand, and the additional (or indirect) effect of the policy on the welfare gain to country A from its investment in research and promotion. The results showed that the reduction in aggregate economic benefits from research/promotion due to a world price-reducing policy in ROW could be in the range of 25-50% of the direct reduction in social welfare due to the ROW policy. In the case of Australian beef/veal, it is possible for the welfare impact of the ROW policy via research payoff in country A to exceed the direct welfare cost.
    Original languageEnglish
    Pages (from-to)11-21
    Number of pages11
    JournalAgricultural Economics
    Volume20
    Issue number1
    DOIs
    Publication statusPublished - 1 Jan 1999

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    Foreign policy
    Indirect effects
    Direct effect
    Welfare gains
    Social welfare
    Welfare cost
    Supply and demand
    Beef
    Policy research
    Economic benefits

    Cite this

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    title = "Impacts of foreign policies on the gains from research and promotion",
    abstract = "This paper compares the direct and indirect effects of rest-of-the-world (ROW) policy on welfare in country A: the direct effect due to the change in world price caused by the policy in the absence of research/promotion-induced shifts in supply/demand, and the additional (or indirect) effect of the policy on the welfare gain to country A from its investment in research and promotion. The results showed that the reduction in aggregate economic benefits from research/promotion due to a world price-reducing policy in ROW could be in the range of 25-50{\%} of the direct reduction in social welfare due to the ROW policy. In the case of Australian beef/veal, it is possible for the welfare impact of the ROW policy via research payoff in country A to exceed the direct welfare cost.",
    author = "VOON, {Jan Piaw, Thomas} and EDWARDS, {G. W.}",
    year = "1999",
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    doi = "10.1016/S0169-5150(98)00074-7",
    language = "English",
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    Impacts of foreign policies on the gains from research and promotion. / VOON, Jan Piaw, Thomas; EDWARDS, G. W.

    In: Agricultural Economics, Vol. 20, No. 1, 01.01.1999, p. 11-21.

    Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

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    AU - EDWARDS, G. W.

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    N2 - This paper compares the direct and indirect effects of rest-of-the-world (ROW) policy on welfare in country A: the direct effect due to the change in world price caused by the policy in the absence of research/promotion-induced shifts in supply/demand, and the additional (or indirect) effect of the policy on the welfare gain to country A from its investment in research and promotion. The results showed that the reduction in aggregate economic benefits from research/promotion due to a world price-reducing policy in ROW could be in the range of 25-50% of the direct reduction in social welfare due to the ROW policy. In the case of Australian beef/veal, it is possible for the welfare impact of the ROW policy via research payoff in country A to exceed the direct welfare cost.

    AB - This paper compares the direct and indirect effects of rest-of-the-world (ROW) policy on welfare in country A: the direct effect due to the change in world price caused by the policy in the absence of research/promotion-induced shifts in supply/demand, and the additional (or indirect) effect of the policy on the welfare gain to country A from its investment in research and promotion. The results showed that the reduction in aggregate economic benefits from research/promotion due to a world price-reducing policy in ROW could be in the range of 25-50% of the direct reduction in social welfare due to the ROW policy. In the case of Australian beef/veal, it is possible for the welfare impact of the ROW policy via research payoff in country A to exceed the direct welfare cost.

    UR - http://commons.ln.edu.hk/sw_master/2576

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