Impacts of foreign policies on the gains from research and promotion

Jan Piaw, Thomas VOON; G. W. EDWARDS

doi:10.1016/S0169-5150(98)00074-7

Impacts of foreign policies on the gains from research and promotion

Jan Piaw, Thomas VOON, G. W. EDWARDS

Lingnan College

Research output: Journal Publications › Journal Article (refereed) › peer-review

1 Citation (Scopus)

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 language	English
Pages (from-to)	11-21
Number of pages	11
Journal	Agricultural Economics
Volume	20
Issue number	1
DOIs	https://doi.org/10.1016/S0169-5150(98)00074-7
Publication status	Published - 1 Jan 1999

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10.1016/S0169-5150(98)00074-7

http://www.sciencedirect.com/science/article/pii/S0169515098000747

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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.",

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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.

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SN - 0169-5150

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EP - 21

JO - Agricultural Economics

JF - Agricultural Economics

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Impacts of foreign policies on the gains from research and promotion

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