Benefit-cost analysis of increased funding for agricultural research and development in the global south

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cg.authorship.typesCGIAR and advanced research institute
cg.contributor.affiliationInternational Food Policy Research Institute
cg.contributor.affiliationMettalytics
cg.contributor.affiliationUniversity of California
cg.contributor.affiliationCopenhagen Consensus Center
cg.contributor.donorCopenhagen Consensus Center
cg.contributor.donorCGIAR Trust Fund
cg.contributor.initiativeForesight
cg.creator.identifierMark Rosegrant: 0000-0001-6371-6127
cg.creator.identifierTimothy B. Sulser: 0000-0001-7128-5283
cg.howPublishedFormally Published
cg.identifier.doihttps://doi.org/10.1017/bca.2023.27
cg.identifier.projectIFPRI - Foresight and Policy Modeling Unit
cg.identifier.publicationRankNot ranked
cg.isijournalISI Journal
cg.issn2194-5888
cg.issueS1
cg.journalJournal of Benefit-Cost Analysis
cg.reviewStatusPeer Review
cg.subject.actionAreaSystems Transformation
cg.subject.impactAreaPoverty reduction, livelihoods and jobs
cg.subject.impactPlatformPoverty Reduction, Livelihoods and Jobs
cg.volume14
dc.contributor.authorRosegrant, Mark W.
dc.contributor.authorWong, Brad
dc.contributor.authorSulser, Timothy B.
dc.contributor.authorDubosse, Nancy
dc.contributor.authorLybbert, Travis J.
dc.date.accessioned2023-12-01T19:43:26Zen
dc.date.available2023-12-01T19:43:26Zen
dc.identifier.urihttps://hdl.handle.net/10568/134916
dc.titleBenefit-cost analysis of increased funding for agricultural research and development in the global southen
dcterms.abstractThis paper conducts a benefit–cost analysis of expanding agricultural research and development (R&D) in the Global South. We extend a recent modeling exercise that used IFPRI’s IMPACT model to estimate the investments required to reduce the global prevalence of hunger below 5%. After 35 years, the increased funding is estimated to increase agricultural output by 10%, reduce the prevalence of hunger by 35%, reduce food prices by 16%, and increase per capita incomes by 4% relative to a counterfactual where funding continues to rise on historical trends. Using an 8% discount rate, the net present value of the costs of agricultural R&D are estimated at $61 billion for the next 35 years, while the net present benefits in terms of net economic surplus (the sum of consumer and producer surplus) are estimated at $2.1 trillion. The central estimate of the benefit–cost ratio (BCR) is 33, consistent with previous research documenting high average returns to agricultural research and development. The central BCR reported in this study places the intervention at the 91st percentile of all previous Copenhagen Consensus BCRs in agriculture, and 87th percentile for all BCRs regardless of sector. Agricultural R&D is likely one of the best uses of resources for the remainder of the Sustainable Development Goals and decades beyond.en
dcterms.accessRightsOpen Access
dcterms.audienceAcademics
dcterms.available2023-08-07
dcterms.bibliographicCitationRosegrant, Mark W.; Wong, Brad; Sulser, Timothy B.; Dubosse, Nancy; and Lybbert, Travis J. 2023. Benefit-cost analysis of increased funding for agricultural research and development in the global south. Journal of Benefit-Cost Analysis 14(S1): 181-205. https://doi.org/10.1017/bca.2023.27en
dcterms.extent181-205
dcterms.issued2023
dcterms.languageen
dcterms.licenseCC-BY-4.0
dcterms.publisherCambridge University Press
dcterms.relationhttps://copenhagenconsensus.com/publication/halftime-sdgs-agricultural-rden
dcterms.replaceshttps://ebrary.ifpri.org/digital/collection/p15738coll5/id/8953
dcterms.subjectagricultureen
dcterms.subjectagricultural innovationen
dcterms.subjectcost analysisen
dcterms.subjectfood securityen
dcterms.subjecthungeren
dcterms.subjectresearchen
dcterms.subjectglobal southen
dcterms.typeJournal Article

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