CONTEXT.- A Brief History of U.S. Agriculture.- INPUTS, OUTPUTS AND PRODUCTIVITY.- Agricultural Inputs.- Agricultural Outputs.- Agricultural Productivity Patterns.- AGRICULTURAL R&D FUNDING AND POLICIES.- Research Funding and Performance.- The Federal Role.- MODELS OF R&D AND PRODUCTIVITY.- Research Lags and Spillovers.- Models of Research and Productivity.- Econometric Estimation and Results.- Productivity Patterns and Research Benefits.- INTERPRETATION AND SYNTHESIS.- Interpretation and Assessment of Benefit-Cost Findings.- Synthesis.
Contains an empirical assessment of the long-run investments in and payoffs to agricultural R&D in the United States, which will be of broader international as well as U.S. interest
Includes substantial improvements in data, understanding, methods, and new and interesting empirical results
Provides comprehensive treatment of issues and prior literature and persuasive results written by leaders in the field
Very timely given the policy, professional, and media attention of late on the "food crisis," growing concerns about an agricultural productivity slowdown and the significant policy flux in Washington DC associated with 2007 Farm Bill