Economics of agricultural biotechnology

Abstract

This chapter surveys the economics of the impact of genetic engineering (GE) in agriculture. Research shows that adoption of these technologies has increased crop yields and farm income, while reducing pesticide, input use, and greenhouse gas emissons from agriculture. The adoption of GE has been impeded by heavy regulatory constraints resulting from political economic considerations. The underutilization of GE in agriculture has negative impacts on ecnomic welfare, especially the poor in developing countries.