This brief report outlines the main economic effects of the observed asynchrony in approvals for biotech-improved crops from regulatory systems in countries that are major global commodity exporters and importers. Initially the authors describe the work of scientists from a range of academic disciplines who use a variety of modeling and analytical techniques to approach this general question. In the next section the authors discuss in detail the question at hand and why it is so important to producers and consumers worldwide. The report then describes concrete research results in several relevant areas, including the effects on trade, downstream industries, the adoption of biotechnology innovations, biotech investment and R&D, crop breeding, and farm income. Proposed policies that could decrease regulatory asynchrony and its impacts on the global agricultural economy are also discussed.