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AGRICULTURAL RESEARCH EXPENDITURES AND AGRICULTURAL PRODUCTIVITY CHANGE
Author(s) -
Hallam D.
Publication year - 1990
Publication title -
journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.157
H-Index - 61
eISSN - 1477-9552
pISSN - 0021-857X
DOI - 10.1111/j.1477-9552.1990.tb00659.x
Subject(s) - productivity , agriculture , economics , agricultural productivity , econometrics , lag , panel data , distributed lag , econometric analysis , agricultural economics , macroeconomics , computer science , geography , computer network , archaeology
This note comments on the econometric analysis of the dynamic relationship between agricultural research expenditures and agricultural productivity change. The validity of the Almon restrictions, particularly endpoint restrictions, commonly imposed on the distributed lag is questioned. It is suggested that models incorporating such restrictions may lead to biased estimates of the effects of research spending. More fundamentally, doubts are raised as to whether any meaningful relationship between research spending and productivity change can be established from the available data.