Agricultural research and development (R&D) has reduced poverty by making food more abundant and cheaper. It may also have affected the variability of agricultural production, prices, and incomes-but food price variability is less important to richer people. Recent evidence of a slowdown in agricultural productivity growth, combined with the rise of biofuels, foreshadows a reversal of the past trend of rising agricultural abundance and a corresponding increase in vulnerability of a greater number of poor people to price variability. This chapter explores the role of agricultural R&D and related policy in contributing to or mitigating the consequences of variability in agricultural production. It emphasizes the implications of a slowdown in agricultural productivity growth in the face of a growing global population, combined with the rise of biofuels and changing climate, and the potential for agricultural innovations to address the attendant challenges to global food security.
|Original language||English (US)|
|Title of host publication||Sustainable Economic Development|
|Subtitle of host publication||Resources, Environment, and Institutions|
|Number of pages||14|
|State||Published - Jan 1 2015|
- Agricultural R&D
- General equilibrium