Public R&D investment and cost structure in Italian agriculture, 1960-1995
研究了1960-1995年间意大利农业公共研发投资对成本结构的影响，通过成本函数分析临时均衡、规模经济及研发投资是否过度或不足，并检验了诱导创新假说和内部收益率。
This paper deals with the role of public research in Italian agriculture during the period 1960–1995. A short-run Generalised Leontief cost function capable of accommodating quasi-fixed factors and variable returns is used. Temporary equilibrium and scale economies are investigated with special emphasis on the methodological implications of R&D stock and the consistency of the estimated model with microeconomic theory. Comparing the relevant shadow and rental price provides evidence on under- (over)-investment and the rationale driving public research expenditure in agriculture. A formal test of the induced innovation hypothesis and the calculation of the internal rate of returns are also presented.