THE RELATIONSHIP BETWEEN DOMESTIC CREDIT PROVIDED TO PRIVATE SECTOR, R&D INVESTMENTS, AND ECONOMIC GROWTH: EVIDENCE FROM CHINA, SOUTH KOREA, AND JAPAN

Year 2024, Volume: 25 Issue: 1, 93 - 114, 20.12.2023

Recep Alper Çelik

https://doi.org/10.31671/doujournal.1295234

Abstract

The main objective of the present study was to reveal the significance of R&D in order to ensure sustainable economic growth. The present study consists of four main parts. In the first part of the study, the term R&D is defined in detail. The Solow model, which is the theoretical basis of the study, is discussed in the introduction. In the first part of the study, the term ‘economic growth’ is explained, as well. Different definitions of economic growth are given and then the basic resources of the economy, people, nature, funds, technological change, and innovation are examined. Ensuring economic growth and improving the quality of life is desired by all nations and peoples. Therefore, the policies and measures to be determined for this purpose are socrucial. In this sense, innovation-oriented economic models are examined. In addition, in the second part of the study, the academic literature is examined in terms of the relationship between loans provided by financial institutions to the private sector, R&D investments, and economic growth. In the third and final part of the study, the relationship between R&D, domestic credit provided to private sector, and economic growth are examined using multivariate regression, cointegration, FMOLS, DOLS, CCR, and ARDL analyzes for China, South Korea, and Japan fort he period between 1991 and 2020. In the conclusion part, all the results obtained are interpreted and the relationship between domestic credit provided to private sector, R&D, and economic growth are presented in a concrete way in terms of empirical findings.

Keywords

Credit, R&D Investment, Economic Growth, Multivariate Regression Analysis, ARDL Analysis.

FİNANSAL KURULUŞLAR TARAFINDAN ÖZEL SEKTÖRE SAĞLANAN KREDİLER, AR&GE YATIRIMLARI VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: ÇİN, GÜNEY KORE VE JAPONYA’DAN KANITLAR

Abstract

Bu çalışmanın temel hedefi, sürdürülebilir ekonomik büyümenin sağlanabilmesi için AR&GE yatırımlarının önemini ortaya koymaktır. Bu bağlamda, bu çalışma dört ana bölümden oluşmaktadır. Çalışmanın ilk bölümünde AR&GE kavramı tanımlanmıştır. Çalışmanın teorik altyapısı olan Solow modeli ise makalenin giriş kısmında ele alınmıştır. Çalışmanın ilk bölümünde ekonomik büyüme kavramı açıklanmıştır. Ekonomik büyümenin farklı tanımları verilmiş ve ardından ekonominin temel kaynakları olan insan, doğa, fon, teknolojik değişim ve inovasyon incelenmiştir. Ekonomik büyümenin sağlanması ve yaşam kalitesinin yükseltilmesi tüm uluslar ve insanlar tarafından arzu edilen bir durumdur. Dolayısıyla bu amaçla belirlenecek politikalar ve tedbirler çok önemlidir. Bu bağlamda inovasyon odaklı ekonomik modeller incelenmektedir. Ayrıca, çalışmanın ikinci bölümünde ise akademik literatür, finansal kuruluşlar tarafından özel sektöre sağlanan krediler, AR&GE yatırımları ve ekonomik büyüme arasındaki ilişki açısından araştırılmıştır. Çalışmanın üçüncü ve son bölümünde ise 1991'den 2020'ye kadar Çin, Güney Kore ve Japonya için çoklu regresyon, eş bütünleşme, FMOLS, DOLS, CCR ve ARDL analizleri kullanılarak AR&GE, özel sektöre verilen finansal krediler ve ekonomik büyüme arasındaki ilişki incelenmiştir. Sonuç bölümünde ise elde edilen tüm sonuçlar yorumlanarak özel sektöre verilen finansal krediler, AR&GE ve ekonomik büyüme arasındaki ilişkisi ampirik bulgular açısından somut bir şekilde ortaya konulmuştur.

Keywords

Krediler, AR&GE Yatırımları, Ekonomik Büyüme, Çoklu Regresyon Analizi, ARDL Analizleri.

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