THE DETERMINANTS OF PRODUCTIVITY IN THE KNOWLEDGE SOCIETY: AN EMPIRICAL STUDY UPON THE SELECTED MEMBER COUNTRIES OF THE ISLAMIC COOPERATION ORGANIZATION

Year 2014, Volume: 9 Issue: 1, 69 - 77, 01.06.2014

Faruk Mike Mina Mahjoub Laleh Başak Gül Aktakas

Abstract

The increasing productivity is a significant feature of economic growth. However, dealing with the increase in productivity, and thus the expansion of national output just as a factor of production means to evaluate the subject partially. The determinants of the labor productivity are not only physical factors but they also depend on the various intangible elements, which are invisible. Hence, the contribution of intellectual capital is highly substantial. The aim of the present study is to analyze the factors which affect the labor productivity under the strength of the knowledge-based society. Among these factors, human capital, the capital stock per capita, Research&Development (R&D) and Information and Communication Technologies (ICT) are regarded as the main components of intellectual capital. Thus, in the current study, in which a dynamic panel data analysis was conducted by means of Generalized Method of Moments – GMM, an empirical study regarding the factors which affect the labor productivity was performed in favor of 27 member countries of The Organization of Islamic Cooperation (OIC). It was found that in the countries included in the application, which was conducted between the years of 2000-2009, the intellectual capital, capital stock per capita, research and development as well as information and communication technologies have a positive and significant impact on productivity

Keywords

Productivity, Intellectual capital, Research&Development, Capital stock, Information and communication technologies

BİLGİ TOPLUMUNDA VERİMLİLİĞİN BELİRLEYİCİLERİ: İSLAMİ İŞBİRLİĞİ TEŞKİLATI ÜYESİ SEÇİLİ ÜLKELER ÜZERİNE AMPİRİK BİR ÇALIŞMA

Abstract

Artan verimlilik, ekonomik büyümenin önemli bir özelliğidir. Ancak, verimlilikteki artışları ve dolayısıyla da
milli hasıladaki genişlemeyi sadece üretim faktörü miktarındaki artış olarak ele almak konuyu sadece kısmi
olarak değerlendirmek anlamı taşımaktadır. İşgücü verimliliğinin belirleyicileri sadece elle tutulabilir faktörler
olmaktan ziyade pek çok gözle görülemeyen, soyut unsurlara da bağlıdır. Bu anlamda entelektüel sermayenin
katkısı fazlasıyla önem arz etmektedir.
Mevcut çalışmanın amacı, işgücü verimliliğine etki eden faktörleri bilgi toplumu ışığı altında incelemektir. Bu
faktörler arasında entelektüel sermayenin başlıca bileşeni olarak beşeri sermaye, kişi başına sermaye stoku,
Araştırma-Geliştirme (Research&Development-R&D) ile Bilişim ve İletişim Teknolojileri (Information and
Communication Technologies-ICT) yer almaktadır. Genelleştirilmiş Momentler Yöntemi (Generalized Method
of Moments-GMM) kullanılarak dinamik bir panel veri analizinin yapıldığı çalışmada İslami İşbirliği Teşkilatı
(The Organisation of Islamic Cooperation-OIC) üyesi 27 ülke için emek verimliliğini etkileyen faktörler üzerine
ampirik bir çalışma yapılmıştır. 2000-2009 yılları arası için yapılan uygulamada ele alınan ülkelerde entelektüel
sermaye, kişi başına sermaye stoku, araştırma-geliştirme ile bilişim ve iletişim teknolojilerinin verimlilik
üzerinde pozitif ve anlamlı bir etkiye sahip olduğu sonucuna ulaşılmıştır.

Keywords

Verimlilik, Entelektüel sermaye, Araştırma-Geliştirme, Sermaye stoku, Bilişim ve İletişim Teknolojileri

References

• Abel, J. R., Dey, I. and Todd, M.G. (2012). “Productivity and the Density of Human Capital”, Journal of Regional Science, Vol. 52, No. 4, 2012, pp. 562-586.
• Anand, N., Gardner, H. K. and Morris, T. (2007), “Knowledge-based innovation: Emergence and Embedding New Practice Areas in Management Consulting Firms”, Academy of Management Journal, Vol. 50 No. 2, pp. 406-426.
• Arellano, M. and Bond, S. (1991). “ Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application toEmployment Equations”, The Review of Economic Studies, Vol. 58, No. 2 (Apr., 1991), pp. 277-297.
• Asteriou, D., & Hall, S. G. (2007). Applied econometrics : A Modern Approach Using Eviews and Microfit. New York: Palgrave Macmillan.
• Baltagi, B. H. (2005). “Econometric Analysis of Panel Data”, Third Edition: Chichester, West Sussex: John Wiley & Sons, Ltd.
• Bontis, N. (1998), “Intellectual capital: An Exploratory Study that Develops Measures and Models”, Management Decision, Vol. 36 No. 2, pp. 63-76.
• Carson, Carol S., Grimm, Bruce T., Moylan, Carol E., (1994). “A Satellite Account for Research and Development”, Survey of Current Business, November 1994, pp: 37- 71, 2006.
• Castells, M. (1996), “The Rise of the Network Society, The Information Age: Economy, Society and Culture”, Vol.1, Blackwell, Cambridge, MA; Oxford, UK.
• Castells, M. (2002). “The Rise of the Network Society, the Information Age: Economy, Society and Culture”. Blackwell Cambridge, MA: Oxford UK Vol.1.
• Commander, S., Harrison, R., and Filho, N. M. (2011). “ICT and Productivity in Developing Countries: New Firm-Level Evidence From Brazil and India”, The Review of Economics and Statistics, May 2011, 93(2): 528–541.
• Drucker, P. F. (1993). “Post capitalist Society”, New York: Harper Collins Publishers.
• Galbraith, J. K. (1969). The New Industrial State: Harmondsworth: Penguin.
• Görmüş, A. Ş. (2009). “Entelektüel Sermaye ve İnsan Kaynakları Yönetiminin Artan Önemi”, Afyon Kocatepe Üniversitesi, İ.İ.B.F. Dergisi (C.X I,S I, 2009), s. 57-75.
• Heshmati, A. and Hyesung K. (2011), “The R&D and productivity relationship of Korean listed firms”, J Prod Anal (2011) 36:125–142.
• IMF (2001), “World Economic Outlook. The Information Technology Revolution”, Chapter III, International Monetary Fund, October, pp. 103–42. From: http://www.imf.org/external/pubs/ft/weo/2001/02/pdf/chapter3.pdf
• Jorgenson, D.W. and Z. Griliches (1968), “The Explanation of Productivity Change”, Review of Economic Studies, 34. 5-180
• Jorgenson, D.W. and K. J. Stiroh (2000), “Raising the Speed Limit: U.S. Economic Growth in the Information Age”, Brookings Papers on Economic Activity, (1), pp. 125-211. From: http://www.ny.frb.org/rmaghome/economist/stiroh/ks_grw.pdf
• Korkmaz, S. (2010). “Türkiye’de AR-GE Yatırımları ve Ekonomik Byüme Arasındaki İlişkinin VAR Modeli ile Analizi”, Journal of Yasar University 2010 20(5) 3320-3330.
• Lovric, L. (2012). “Information-Communication Technology Impact on Labor Productivity Growth of EU Developing Countries”, Zb. rad. Ekon. fak. Rij., 2012, vol. 30, sv. 2 , pp. 223-245.
• Lee, Houng and Khatri, Y. (2003) “Information Technology and Productivity Growth in Asia”, IMF Working Paper.
• Machlup, F. (1972). “The Production and Distribution of Knowledge in the United States” Princeton, NJ: Princeton University Press.
• Mankiw, N.G., Romer, D., and Weil, D.N. (1992). “A Contribution to the Empirics of Economic Growth”, The Quarterly Journal of Economics, 107 (May), pp.407-437.
• Moshiri, S. and Simpson, W. (2011). “Information technology and the changing workplace in Canada: firm-level evidence”, Industrial and Corporate Change, Volume 20, Number 6, pp. 1601–1636, Advance Access published June 19, 2011.
• Nahapiet, J. and Ghoshal, S. (1998), “Social capital, intellectual capital, and the organizational advantage”, Academy of Management Review: Vol. 23, pp. 242-266.
• Oliner, S.D. and D.E. Sichel (2002), “Information Technology and Productivity: Where Are We Now and Where Are We Going?”, Federal Reserve Board. Washington DC.
• Piatkowski, M. (2003) “The Contribution of ICT Investment to Economic Growth and Labor Productivity in Poland http://www.tiger.edu.pl/publikacje/TWPNo43.pdf.
• TIGER Working Paper Series, No. 43. July. Warsaw. From:
• Piatkowski, M. (2004), “Factors and Impacts in the Information Society: A Prospective Analysis of Poland”. IPTS Seville, European Commission. Forthcoming.
• Powell, W. W. and Snellman, K. (2004). “The knowledge economy”: (Vol. 30), Greenwich: CT: JAI Press.
• World Development Indicators: WDI, (2012).
• Romer, P.M. (1990). “Endogenous Technological Change”, Journal of Political Economy, 98(5), pp. 71-102.
• Solow, R. (1957) “Technical Change and the Aggregate Production Function”. Review of Economics and Statistics. August. 39(3), pp. 312-20.
• Stam, Chistiaan (2005). “Intellectual Productivity, 26th McMaster World Congress”, Hamilton, Ontario, Canada: January 19-21, 2005.
• Subramaniam, M. and Youndt, M. A. (2005), “The influence of intellectual capital on the types of innovative capabilities”, Academy of Management Journal: Vol. 48 No. 3, pp. 450-463.
• Turner, L. and Boulhol, H. (2011). “Recent trends and structural breaks in the US and EU15 labour productivity growth”, Applied Economics, 43, 4769–4784.
• Vieira, E., Neira, I. and Vazquez E. (2011). “Productivity and Innovation Economy: Comparative Analysis of European NUTS-2, 1995–2004”, Regional Studies, Vol. 45.9, pp. 1269–1286, October 2011.
• Youngman, R. (2003). “Understanding Today's Economy and its Residuals” March, PRISM, London: www.euintangibles.net.
• Yükçü S. ve Atağan G. (2009). “Etkinlik, Etkililik ve Verimlilik Kavramlarının Yarattığı Karışıklık”, Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, Cilt: 23, Sayı: 4, 2009, 1-13.