Application of Multi-Commodity Partial Equilibrium Model to Quantify the Welfare Benefits of Research

Nedumaran, S and Bantilan, M C S and Mason-D’Croz, D and Singh, P (2014) Application of Multi-Commodity Partial Equilibrium Model to Quantify the Welfare Benefits of Research. In: 58th AARES Annual Conference, February 4-7, 2014, Port Macquarie, New South Wales.

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Most of the research evaluation and priority setting studies in the past are not likely to incorporate the cross-commodity effects in the estimation of welfare benefits since the cross-price elasticities are often unavailable and cross-commodity spillovers of technologies may be difficult to estimate. This paper also illustrates how the multi-commodity framework is suitable in addressing longer term trends in quantifying future welfare gains and their implications for resource allocation for dryland crops namely sorghum and groundnuts. To address these gaps, this paper will highlight the application of multi-commodity partial equilibrium model called International Model for Policy Analysis of Agricultural Commodities and Trade (IMPACT) to estimate the welfare benefits of sorghum and groundnuts research. The modelling framework also integrates crop modelling suite, hydrology model, climate models and welfare analysis. This model will endogenously estimate the changes in the production, consumption and prices due to adoption of new productivity enhancing technologies and also estimate the changes in the other commodities demand, supply and prices through cross price elasticities effects.

Item Type: Conference or Workshop Item (Paper)
Divisions: RP-Market Institutions and Policies
Uncontrolled Keywords: Multi-commodity model, technology evaluation, welfare benefits
Subjects: Others > Agriculture-Farming, Production, Technology, Economics
Depositing User: Mr Siva Shankar
Date Deposited: 14 Apr 2014 04:14
Last Modified: 14 Apr 2014 05:45
Acknowledgement: UNSPECIFIED
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