The Journal of Fisheries Business Administration (수산경영론집)

The Korean Society of Fisheries Business Administration (한국수산경영학회)
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Analyzing Investment Effects of Fisheries R&D Projects : A Case of NFRDI's R&D Projects

수산업 R&D 사업의 투자효과 분석 : 국립수산과학원 수산시험연구사업을 중심으로

  • Park, Kyoung-Il (Technology Management Center, National Fisheries Research & Development Institute) ;
  • Kim, Do-Hoon (Department of Marine Business and Economics, Pukyong National University)
  • 박경일 (국립수산과학원 기술경영센터) ;
  • 김도훈 (부경대학교 해양산업경영학과)
  • Received : 2013.09.06
  • Accepted : 2013.09.25
  • Published : 2013.09.30
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Abstract

This study is aimed to analyze investment effects of fisheries R&D projects of the National Fisheries Research and Development Institute(NFRDI). In the analysis, Granger causal relations between R&D investment and fisheries production are tested. In addition, time-lag effects of fisheries R&D investment are estimated with an impulse response analysis and investment effects of R&D projects are estimated by changes of social surplus. Results indicate that there exists an Granger-causality between R&D investment and fisheries production and fisheries production responds to the fisheries R&D shock about three years after the initial shock. The magnitudes of the impacts increase until a peak is reached 5~7 years and the impacts decline to zero after 25 years. As investment effects, it is shown that the internal rate of returns of fisheries R&D investment is 55.2%.

Keywords

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