Introduction

A number of factors drive the cost of scholarly books and journals. Unpredictable changes in any one or combination of these factors dramatically affect how successfully the UC Davis University Library can acquire and provide access to information resources that support the research, teaching, and patient care efforts of UC Davis faculty, staff, and students.

Book and journal production rates:

• "In 1980 there were about 120 economics journals, half of which were commercial and half non-profit. In 2000 there are almost 300 economics journals, two-thirds of which are owned by commercial publishers." (source: The Economics of Scholarly Journal Publishing. Bergstrom and Bergstrom.)
• From May 26, 2003 RR Bowker press release, book production rose 5.86% in 2002
• From R.R. Bowker, U.S. Book Production 1993-

Book and journal inflation rates

Based on statistics gathered from 123 members of the Association of Research Libraries (UC Davis is a member):

• Between 1986 and 2002:
  • Book expenditures rose 62% while journal expenditures rose 227%
  • Average monograph cost rose 75% while average journal subscription cost rose 227%
• For UC Davis University Library in 2003:
  • Average book cost rose 8%
  • Average print journal subscription cost rose 16-19%

Foreign currency exchange affecting book and journal cost

• For 2003 the average exchange rate for the US dollar resulted in a 14% reduction in purchasing power
• For January through March 2004 the average exchange rate for the US dollar resulted in a 20% reduction in purchasing power

Commercial publisher mergers and acquisitions of society publishing efforts reducing the number of options to disseminate scholarly information:

Various investment reports for science, technology, and medical journal publishers show an average subscription rate increase of 20-30% after a merger or acquisition

New UC Davis academic programs that require formats other than print or Internet-based resources:

Information for new undergraduate majors, such as film studies, is found on CD-ROMs and DVDs in addition to the traditional book and journal

Summary

The factors mentioned above play more devastating roles to university research, teaching, and patient care when there is reduction to the Library's book and journal budget. As a result the Library:

• Cannot continue to acquire books and to subscribe to journals at the same rate as in the past
• Cannot support multiple formats, but must select the format (print or electronic) that best serves the majority of the targeted users
• Cannot acquire materials for all faculty research or teaching areas of interest