All the rate of return estimates, regardless of methodology or the level of aggregation, are entirely consistent and logical. The returns show that the ARC has been extremely successful economically and has followed a sound strategy of exploiting spillovers from foreign R&D systems. However,...

This paper calculates multi-lateral Malmquist multi-factor productivity (MFP) indices for agriculture in the eighteen regions and the commercial sector of Botswana from 1981 to 1996. The Malmquist is appropriate because prices do really exist for major inputs such as land and labour. The small...