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http://dx.doi.org/10.12939/FBA.2013.44.2.101

Analyzing Investment Effects of Fisheries R&D Projects : A Case of NFRDI's R&D Projects  

Park, Kyoung-Il (Technology Management Center, National Fisheries Research & Development Institute)
Kim, Do-Hoon (Department of Marine Business and Economics, Pukyong National University)
Publication Information
The Journal of Fisheries Business Administration / v.44, no.2, 2013 , pp. 101-109 More about this Journal
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
Fisheries R&D; Investment; Internal rate of return; Granger-causality; Impulse response;
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Times Cited By KSCI : 3  (Citation Analysis)
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