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Yükselen Ekonomilerde İnovasyon ve Büyüme İlişkisi: Panel Eşbütünleşme Analizi

Year 2022, , 649 - 681, 19.08.2022
https://doi.org/10.30626/tesamakademi.1103653

Abstract

Bir ülke ekonomisinin global düzeyde teknolojiye ulaşabilmesi, Ar-Ge ve teknoloji yaratmaya ilişkin odağında inovasyonun bulunduğu bir büyüme stratejisini uygulamasıyla mümkün hale gelebilmektedir. Yeni ürün ve üretim süreçlerinin oluşturulması veya mevcut ürün ya da üretim süreçlerinin iyileştirilmesi şeklinde ekonomik açıdan yarar elde edilmesini ifade eden inovasyon kavramı, ülkelerin sürdürülebilir ekonomik büyüme ve rekabet gücü elde edebilmeleri noktasında oldukça büyük bir öneme sahiptir. İnovasyon; global çapta rekabet üstünlüğü elde etmede, verimliliğin arttırılmasında, ekonomik büyümede ve buna bağlı olarak refah ve hayat standartlarının yükseltilmesinde önemli unsurlarından biri şeklinde görülmektedir. Özellikle yükselen ekonomiler için büyümenin itici gücü olarak teknolojik gelişmeler ve inovasyon büyük önem taşımaktadır. Bu çalışmanın amacı, yükselen ekonomilerde teknolojik gelişmelerin büyümeye etkisini panel eşbütünleşme analizinden yararlanarak ortaya koymaktır. Gerçekleştirilen analizle birlikte, değişkenler arasında uzun vadeli bir bağlantı belirlenmiştir. Uzun dönem katsayı tahminleri incelendiğinde, AR-GE ve PA değişkeni GSYİH üzerinde pozitif yönde istatistiksel açıdan ilişki bulunduğu görülmüştür. AR-GE değişkeni GSYİH değişkenini %25.2 arttırmaktadır. Diğer yandan, PA değişkeni GSYİH değişkenini %21.4 arttırmaktadır. Ayrıca, AR-GE ve PA değişkenlerinden GSYİH’ye doğru tek yönlü nedensellik saptanmıştır.

Supporting Institution

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References

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The Relationship Between Innovation and Growth in Emerging Economies: A Panel Cointegration Analysis

Year 2022, , 649 - 681, 19.08.2022
https://doi.org/10.30626/tesamakademi.1103653

Abstract

A country’s economy’s access to technology at a global level becomes possible by implementing a growth strategy that focuses on R&D and technology creation, with innovation. The concept of innovation, which expresses economic benefit in the form of creating new products and production processes or improving existing products or production processes, has a great importance for countries to achieve sustainable economic growth and competitiveness. Innovation; “It is seen as one of the important elements in gaining competitive advantage on a global scale, increasing productivity, economic growth and, accordingly, raising welfare and living standards. Technological developments and innovation are of great importance as the driving force of growth, especially for emerging economies. The aim of this study is to reveal the effect of technological developments on growth in emerging economies by using panel cointegration analysis. With the analysis performed, a long-term link between the variables was determined. When the long-term coefficient estimates are examined, it is seen that there is a positive statistical relationship on the R&D and PA variable GDP. The R&D variable increases the GDP variable by 25.2%. On the other hand, the PA variable increases the GDP variable by 21.4%. Also, one-way causality was found from R&D and PA variables to GDP”

References

  • Aghion, P. and Howitt, P. (1992). A model of growth through creative destruction. Econometrica, 60, 323-351.
  • Aghion, P. and Howitt, P. (2006). Appropriate growth policy: a unifying framework. Journal of the European Economic Association, 4, 269-314.
  • Altıntaş, F. F. (2020). İnovasyonun ekonomik büyümeyi etkilemesine yönelik bir yapısal eşitlik modeli uygulaması: G20 grubu ülkeleri örneği. BMIJ, 8(4), 723-763.
  • Barro, R. J. (1990). Government spending in a simple model of endogenous growth. Journal of Political Economy, 98, 103-125.
  • Barro, R. J. (1991). Economic growth in a cross section of countries. Quarterly Journal of Economics, 106, 407-443.
  • Bayraktutan, Y. ve Kethuda, F. (2016). Ar-Ge ve iktisadi büyüme ilişkisi: OECD örneği. Uluslararası Sosyal Araştırmalar Dergisi, 10(53), 679-694.
  • Bialbao-Osorio, B. and Rodriguez-Pose, A. (2004). From R&D to innovation and economic growth in the EU. Growth and Change, 35(4), 434-455.
  • Bozkurt, C. (2015). R&D Expenditures and Economic Growth Relationship in Turkey. International Journal of Economics and Financial Issues, 5(1), 188-198.
  • Breusch, T. S. and Pagan, A. R. (1980). The lagrange multiplier test and its applications to model specification in econometrics. The Review of Economic Studies, 47(1), 239- 253.
  • Caiazza, R. (2015). Explaining innovation in mature industries: Evidences from Italian SMEs. Technology Analysis & Strategic Management, 27(1), 975-985.
  • Correa, J. A. (2012). Innovation and competition: An unstable relationship. Journal of Applied Econometrics, 27(2), 160-166.
  • Cutcu I. ve Bozan T. (2019). İnovasyon ve ekonomik büyüme ilişkisi: G-7 ülkeleri üzerine panel veri analizi. Uluslararası Ekonomi İşletme ve Politika Dergisi, 3(2), 289-310.
  • Donou-Adonsou, F. (2019). Technology, education, and economic growth in sub-saharan Africa. Telecommunications Policy, 43(4), 353-360.
  • Drucker, P. (2014). Innovation and entrepreneurship: practice and principles. New York: Routledge.
  • Dumitrescu, E. and Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29(1), 1450-1460.
  • Farinha, L., Ferreira, J. and Gouveia, B. (2016). Networks of innovation and competitiveness: a triple helix case study. Journal of the Knowledge Economy, 5(2), 1-18.
  • Genç, M. ve Atasoy, Y. (2010). Ar-Ge harcamaları ve ekonomik büyüme ilişkisi: panel veri analizi, The Journal of Knowledge Economy & Knowledge Management, 5(2), 27-34.
  • Granger, C. W. J. (1969). Investigating Causal Relations by Econometric Models and Cross-Spectral Methods. Econometrica, 37, 424-438.
  • Grossman, G. M. and Helpman, E. (1991). Innovation and Growth in the Global Economy. Cambridge: MIT Press.
  • Gülmez, A. ve Yardımcıoglu, F. (2012). OECD Ülkelerinde Ar-Ge harcaması ve ekonomik büyüme ilişkisi: Panel eşbütünleşme ve panel nedensellik analizi (1990-2010). Maliye Dergisi, 163, 335-353.
  • Güloğlu, B. ve Tekin, B. (2012). A panel causality analysis of the relationship among research and development, innovation, and economic growth in high-income OECD countries. Eurasian Economic Review, 2(1), 32-47.
  • Güneş, H. (2019). Ar-Ge harcamaları ile ekonomik büyüme ilişkisi: OECD ülkeleri için panel veri analizi. Sakarya İktisat Dergisi, 8(2), 160-176.
  • Hasan, I. and Tucci, C. L. (2010). The innovation–Economic growth nexus: Global evidence. Research Policy, 39(10), 1264-1276.
  • Hong, J-P. (2017). Causal Relationship Between ICT R&D Investment and economic growth in Korea. Technological Forecasting and Social Change, 116, 70-75.
  • Huňady, J. and Orviská, M. (2014). The Impact of Research and Development Expenditures on Innovation Performance and Economic Growth of the Country-the Empirical Evidence, CBU International Conference Proceedings, 2(1), 119-125.
  • Hussain, M., F., Afzal, A., Asif, M., Ahmed, N. and Bilal, R. M. (2011). Impact of innovation, technology and economic growth on entrepreneurship. American International Journal of Contemporary Research, 1(1), 45-51.
  • Inekwe, J. N. (2014). The countribution of R&D expenditures to economic growth in developing countries. Social Indicators Research, 124(3), 727-745.
  • İnal, V., Altıntaş, N. ve Çalışkan, M. (2017). Ar‐Ge harcamalarının ekonomik büyümeye etkisi: Türkiye özelinde nedensellik analizi. Sakarya Üniversitesi Dergisi, 1(1), 34-47.
  • Josheski, D. and Koteski, C. (2011). The causal relationship between patent growth and growth of GDP with quarterly data in the G7 countries: Cointegration, ARDL and Error Correction Models. MPRA Paper No. 33153, 1-21.
  • Lasagni, A. (2012). How can external relationships enhance innovation in SMEs? New evidencefor Europe. Journal of Small Business Management, 50(2), 310-339.
  • Larsson, L. and Larsson, J. (2018). Sustainable development in project-based industries–supporting the realization of explorative innovation. Sustainability 10(3), 1-18.
  • Lefebvre, V. M., De Steur, H., & Gellynck, X. (2015). External sources for innovation in food SMEs. British Food Journal, 117, 412-430.
  • Li, J. and Jiang, Y. (2016). ‘Calculation and empirical analysis on the contributions of R&D spending and patents to china’s economic growth. Theoretical Economics Letters, 6(6), 1256-1266.
  • Lindgardt, Z., Reeves, M. and Stalk, G. (2015). Business model innovation -when the game gets tough, change the game. Boston, MA: Boston Consulting Group.
  • Ljungquist, L. and Sargent, T. (2004). Recursive macroeconomic theory, 2nd edition. Cambridge MA: MIT Press.
  • Lucas, R. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22, 3-42.
  • Martins, E. and Terblanche, F. (2003). Building organizational culture that stimulates creativity and innovation. European Journal of Innovation Management, 6(1), 64-74.
  • Medcof, J.W. and Lee, T. (2017). The effects of the chief technology officer and firm and industry R&D intensity on organizational performance: CTO and firm and industry R&D on organizational performance. R&D Management, 47(5), 767-781.
  • Mecik, O. (2014). Ar-Ge Harcamalarının ekonomik gelişmişlik üzerindeki etkileri. Uluslararası Sosyal Araştırmalar Dergisi, 7(32), 669-674.
  • Mehran, M. & Reza, M. A. (2011). Comparative investigation of the relation of R&D expenditures to economic growth in a group of the less developed countries and OECD countries. Journal of Social and Development Sciences, 2(4), 188-195.
  • Michelson, S., Philipova, E. and Srotova, P. (2008). The case of emerging market funds. Journal of Business and Economics, 6(11), 81-88.
  • Ntuli, H., Inglesi-Lotz, R., Chang, T. and Pouris, A. (2015). A does research output cause economic growth or vice versa? evidence from 34 OECD countries. Journal of the Association for Information Science and Technology, 66(8), 1709-1716.
  • Özbay, F., Arıcan, M. ve Oguzturk, B. S. (2021). Çin rüyasının gerçekleşmesinde inovasyonun önemi: büyüme ve inovasyon ilişkisi üzerine ekonometrik bir analiz. İnsan ve Toplum Bilimleri Araştırmaları Dergisi, 10(1), 413-437.
  • Özer, M. ve Çiftçi, N. (2009). Ar-Ge harcamaları ve ihracat ilişkisi: OECD ülkeleri panel veri analizi. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, 23, 1-9.
  • Özcan, B. ve Arı, A. (2014). Araştırma-geliştirme harcamaları ve ekonomik büyüme ilişkisi: panel veri analizi. Maliye Dergisi, 166, 39-55.
  • Pece, A. M., Simona, O. E. O. ve Salisteanu, , F. (2015). Innovation and economic growth: an empirical analysis for CEE countries. Procedia Economics and Finance, 26(1),461-467.
  • Petruzzelli, M. A., Ardito, L. and Savino, T. (2018). Maturity of knowledge inputs and innovation value: The moderating effect of firm age and size. Journal of Business Research, 86(2), 190-201. Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. CESifo Working Papers, No.1233, 255-260.
  • Pesaran, M. H., Ullah A. and Yamagata T. (2008). A bias-adjusted lm test of error cross-section independence. Econometrics Journal, 11(1), 105-127.
  • Pesaran, M. H. (2007). A Simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 22(2), 265-312.
  • Pesaran, M. H. and Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics, 142(1), 50-93.
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There are 76 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Articles
Authors

Pınar Tokal 0000-0003-2267-8931

Publication Date August 19, 2022
Published in Issue Year 2022

Cite

APA Tokal, P. (2022). Yükselen Ekonomilerde İnovasyon ve Büyüme İlişkisi: Panel Eşbütünleşme Analizi. TESAM Akademi Dergisi, 9(2), 649-681. https://doi.org/10.30626/tesamakademi.1103653
AMA Tokal P. Yükselen Ekonomilerde İnovasyon ve Büyüme İlişkisi: Panel Eşbütünleşme Analizi. TESAM Akademi Dergisi. August 2022;9(2):649-681. doi:10.30626/tesamakademi.1103653
Chicago Tokal, Pınar. “Yükselen Ekonomilerde İnovasyon Ve Büyüme İlişkisi: Panel Eşbütünleşme Analizi”. TESAM Akademi Dergisi 9, no. 2 (August 2022): 649-81. https://doi.org/10.30626/tesamakademi.1103653.
EndNote Tokal P (August 1, 2022) Yükselen Ekonomilerde İnovasyon ve Büyüme İlişkisi: Panel Eşbütünleşme Analizi. TESAM Akademi Dergisi 9 2 649–681.
IEEE P. Tokal, “Yükselen Ekonomilerde İnovasyon ve Büyüme İlişkisi: Panel Eşbütünleşme Analizi”, TESAM Akademi Dergisi, vol. 9, no. 2, pp. 649–681, 2022, doi: 10.30626/tesamakademi.1103653.
ISNAD Tokal, Pınar. “Yükselen Ekonomilerde İnovasyon Ve Büyüme İlişkisi: Panel Eşbütünleşme Analizi”. TESAM Akademi Dergisi 9/2 (August 2022), 649-681. https://doi.org/10.30626/tesamakademi.1103653.
JAMA Tokal P. Yükselen Ekonomilerde İnovasyon ve Büyüme İlişkisi: Panel Eşbütünleşme Analizi. TESAM Akademi Dergisi. 2022;9:649–681.
MLA Tokal, Pınar. “Yükselen Ekonomilerde İnovasyon Ve Büyüme İlişkisi: Panel Eşbütünleşme Analizi”. TESAM Akademi Dergisi, vol. 9, no. 2, 2022, pp. 649-81, doi:10.30626/tesamakademi.1103653.
Vancouver Tokal P. Yükselen Ekonomilerde İnovasyon ve Büyüme İlişkisi: Panel Eşbütünleşme Analizi. TESAM Akademi Dergisi. 2022;9(2):649-81.