Evaluating Research, Development and Extension: Practical insights from the Queensland Department of Primary Industries and Fisheries

Publicly funded agricultural research bodies are under increasing pressure to ensure efficient allocation of resources and demonstrable returns on investment. In line with its mission to, 'maximise the economic potential of Queensland's primary industries on a sustainable basis' the Queensland Department of Primary Industries routinely conducts systematic economic evaluations of its research and development programs. This paper illustrates some practical insights from the application of economic surplus models in these assessments. The implications for investment management are discussed.

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