AN ECONOMIC EVALUATION OF COTTON AND PEANUT RESEARCH IN SOUTHEASTERN UNITED STATES



obsolescence than basic research because applied research is inherently more sensitive to
changes in controlling factors (Alston, Norton, and Pardey, 1995). Resistance in pesticides, for
example, occurs as pests evolve to resist chemicals, making previous research obsolete.

Table1: Estimated Rates of Agricultural Research for the United States

Study

Time
Period

Annual Rate
of Return

Griliches, 1964

1949-1959

35-45+

Lattimer, 1964

1949-1959

Not significant

Evenson, 1968

1949-1959

17

Cline, 1975

1949-1958

39-47+

1954-1968

32-39+

1967-1972

28-35+

Peterson and Fitzharris, 1977

1957-1962

49+

1967-1972

^34+

Evenson, Waggoner, and Ruttan, 1979

1948-1971

15+

White, Havlicek, and Otto, 1979

1942-1957

18

1958-1977

12

Lyu, White, and Liu, 1984

1949-1981

16

Braha and Tweeten, 1986

1959-1982

17

Huffman and Evenson, 1989

1960-1982

lɜ

Norton and Ortiz, 1992

1987

^30

+ returns to research and extension.

Source: Norton, George W. “Benefits of US Agricultural Research”
www.warp. nal.usda.gov/pgdic/Probe/v2n2/bene. html



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