Agricultural Knowledge, Science and Technology: Investment and Economic Returns | 513

Table 8-9. Summary of Internal Rate of Return (IRR) estimates

 

Number of IRRs reported

Distribution

Approx. median IRR

 

0-20

21-40

41-60

61-80

81-100

100+

 

(count)

 

 

 

(percent)

 

 

 

Extension

 

 

 

 

 

 

 

 

Farm observation:

16

56

0

6

6

5

6

18

Aggregate observations

29

24

14

7

0

27

27

80

Combined research and extension

36

14

42

28

03

8

16

37

By region:

 

 

 

 

 

 

 

 

OECD

19

11

31

16

0

11

16

50

Asia

21

24

19

19

14

.09

14

47

Latin America

23

13

26

34

8

.08

.09

46

Africa

10

40

30

20

10

0

0

27

All extension

81

26

23

16

3

.19

13

41

Applied research

 

 

 

 

 

 

 

 

Project evaluation

121

25

31

14

18

6

7

40

Statistical

254

14

20

23

12

10

20

50

Aggregate programs

126

16

27

29

10

9

9

45

Commodity programs:

 

 

 

 

 

 

 

 

Wheat

30

30

13

17

10

13

17

51

Rice

48

8

23

19

27

8

14

60

Maize

25

12

28

12

16

8

24

56

Other cereals

27

26

15

30

11

7

11

47

Fruits and vegetables

34

18

18

09

15

9

32

67

All crops

207

19

19

14

16

10

21

58

Forest products

13

23

31

68

16

0

23

37

Livestock

32

21

31

25

9

3

9

36

By region:

 

 

 

 

 

 

 

 

OECD

146

15

35

21

10

07

11

40

Asia

120

08

18

21

15

11

26

67

Latin America

80

15

29

29

15

7

6

47

Africa

44

27

27

18

11

11

5

37

All applied research

375

18

23

20

14

8

16

49

Pre-invention science

12

0

17

33

17

17

17

60

Private sector R&D

11

18

9

45

9

18

0

50

Ex-ante research

87

32

34

21

6

1

6

42