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| Auteurs principaux: | , , , |
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| Format: | Preprint |
| Publié: |
2024
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| Accès en ligne: | https://arxiv.org/abs/2405.08159 |
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| _version_ | 1866910452549681152 |
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| author | Ortiz-Bobea, Ariel Chambers, Robert G. He, Yurou Lobell, David B. |
| author_facet | Ortiz-Bobea, Ariel Chambers, Robert G. He, Yurou Lobell, David B. |
| contents | Increasing agricultural productivity is a gradual process with significant time lags between research and development (R&D) investment and the resulting gains. We estimate the response of US agricultural Total Factor Productivity (TFP) to both R&D investment and weather, and quantify the public R&D spending required to offset the emerging impacts of climate change. We find that offsetting the climate-induced productivity slowdown by 2050 alone requires a sustained public R&D spending growth of 5.2-7.8% per year over 2021-2050. This amounts to an additional $208-$434B investment over this period. These are substantial requirements comparable to the public R&D spending growth that followed the two World Wars. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2405_08159 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Large increases in public R&D investment are needed to avoid declines of US agricultural productivity Ortiz-Bobea, Ariel Chambers, Robert G. He, Yurou Lobell, David B. General Economics Economics Increasing agricultural productivity is a gradual process with significant time lags between research and development (R&D) investment and the resulting gains. We estimate the response of US agricultural Total Factor Productivity (TFP) to both R&D investment and weather, and quantify the public R&D spending required to offset the emerging impacts of climate change. We find that offsetting the climate-induced productivity slowdown by 2050 alone requires a sustained public R&D spending growth of 5.2-7.8% per year over 2021-2050. This amounts to an additional $208-$434B investment over this period. These are substantial requirements comparable to the public R&D spending growth that followed the two World Wars. |
| title | Large increases in public R&D investment are needed to avoid declines of US agricultural productivity |
| topic | General Economics Economics |
| url | https://arxiv.org/abs/2405.08159 |