“…From an initial focus on building agricultural institutions, increasing food production and promoting agricultural growth, aid has tended to re‐focus on a wider range of second generation problems such as policy reforms for more open, liberal economies (Herdt, ). Agricultural research investment contributed immensely to China's agricultural productivity growth over the past 40 years (Fan et al ., ; Rozelle et al ., ) and also in India (Janaiah et al ., ). Rates of return on agricultural research investment are found to be close to or above 50% (World Bank Operations Evaluation Department, , ; Anderson and Feder, ; Fan et al ., , ; Fan and Pardey, ; Fan and Rao, ; Lipton, ).…”