미시적 접근법을 이용한 농림 R&D 투자성과분석

An Economic Analysis of Agricultural R&D Program Based on a Micro Approach

In this paper, we tried to estimate economic values of agricultural R&D program sponsored by the government using a micro approach. In particular, we focus our attention on potential economic values of agricultural R&D program operated by the IPET (formally the ARPC). Regional inputoutput model is used to capture potential spillover effects across associated industries. In addition, we performed custer analysis to categorize agricultural R&D projects in ex-post. Our inter-industry analysis results revealed that the estimated economic values of 2,490 R&D projects sponsored by the IPET during 1994~2008 were 82.21 billion won including direct effects of 36.86 billion won. Evaluated with the R&D budget during the same period, the IRR (Internal Rate of Return) was estimated to be 1.8. Four major clusters were identified by the ex-post categorization of agricultural R&D projects based on 14 major outputs: the agricultural technology cluster, the education and consulting cluster, the new technology cluster, and the policy cluster.