Joshua Ariga, IFDC economist, discusses public and private investments in agricultural research and development.
“The focus for many developing countries is on increasing both public and private investments for improving the performance of the agricultural sector; an issue that is being pursued at national, regional and international levels. Identifying the right technologies, developing output and input markets, prioritizing agriculture in national development strategies, and private-public partnerships are important aspects for a successful research and development (R&D) and technology adoption framework. Agricultural R&D has the potential to reduce costs and/or raise output and therefore to shift the supply curve to the right. The InterAcademy Council and other public and private agencies have recognized the critical role of S&T in economic and social development and have recommended a doubling of public agricultural R&D funding by 2015.”
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