Publishing Details

Publication Type: 
Conference Paper
Authored by:
Rao, Xudong; Hurley, Terrance M.; Pardey, Philip G.
Publication Date: 
August 2012
Conference Title: 
Agricultural and Applied Economics Association, 2012 Annual Meeting, Seattle, Washington, August 12-14, 2012


The purpose of this research was to reexamine past estimates of the rates of return to food and agricultural R&D in light of the MIRR to see if a similar pattern emerges across the literature. Specific objectives included:

  • Assemble a comprehensive database of estimates of the rate of return to food and agricultural R&D.
  • Use the information available from past studies to estimate the MIRR when feasible.
  • Compare the IRR and MIRR estimates under alternative assumptions regarding the reinvestment rate.


HarvestChoice, 2012. "Recalibrating the Reported Rates of Return to Food and Agricultural R&D." International Food Policy Research Institute, Washington, DC., and University of Minnesota, St. Paul, MN. Available online at

Additional Attributes

Primary Contact: Xudong Rao
Keywords: Agricultural Development, Agricultural Research, Impact Assessment, Literature Review, Rate of Return, Research