A NEW PERSPECTIVE ON UNDERINVESTMENT IN AGRICULTURAL R&D

[c] Sensitivity to under- or overestimation
of implicit cutoff rate

Agricultural research expenditures as a percentage of AgGDP (%)

Figure 5: R&D opportunity curves

Rate of return (%) Rate of return (%)

[b] Research-intensity ratio 1981-85

Agricultural research expenditures as a percentage of AgGDP (%)

[d] Developing-country R&D opportunity
curve broken down by region

Agricultural research expenditures as a percentage of AgGDP (%)

18

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