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Verimlilik, Ar-Ge ve Gelir Dağılımı Eşitsizliğinin Ekonomik Büyüme Üzerindeki Etkileri: Panel Veri Analiziyle Ampirik Bir Kestirim

Year 2025, Volume: 59 Issue: 1, 47 - 60, 22.01.2025
https://doi.org/10.51551/verimlilik.1510434

Abstract

Amaç: Bu çalışmanın amacı, gelişmiş ve gelişmekte olan ülkelere ait panel veriler kullanılarak verimlilik, Ar-Ge ve gelir dağılımı eşitsizliğinin ekonomik büyüme üzerindeki etkilerini ampirik olarak değerlendirmektir.
Yöntem: Bu amaçla, 29 ülke için 1998-2018 yılları arasında gözlemlenen ilgili değişkenlere ilişkin panel veriler analiz edilmiştir. Değişkenlerin yatay kesit bağımlılığı ve durağanlık testleri yapılıp panel veri regresyon modelleri test edildikten sonra parametre kestirimleri yapılmıştır. Daha sonra, en uygun model belirlenerek model hatalarındaki otokorelasyon, değişen varyans ve yatay kesit bağımlılığı gibi varsayımlar test edilmiştir. Çalışmada gerçekleştirilen tüm analizlerde R istatistik programı kullanılmıştır.
Bulgular: Analiz sonuçlarına göre verimlilik ve Ar-Ge değişkenleri ekonomik büyümeyi pozitif yönde etkilerken, gelir dağılımı eşitsizliğinin artmasının da ekonomik büyümeyi negatif yönde etkilediği tespit edilmiştir.
Özgünlük: Bu çalışma bazı açılardan literatürdeki boşluğu doldurmaktadır: Çalışmada hem gelişmiş hem de gelişmekte olan ülkelere ait veri setleri kullanılarak daha geniş bir yelpazede analiz yapılmış ve 1998’den 2018’e kadar yakın dönemdeki Gini katsayıları, Ar-Ge harcamaları ve Toplam Faktör Verimliliği (TFV) değişkenleri üzerine odaklanılmıştır. Ayrıca, bu araştırmanın sonuçları yalnızca politika yapıcılarına kolaylık sağlamakla kalmayacak, aynı zamanda da Ar-Ge harcamaları ve TFV’nin ekonomik büyümede ne derece etkili olduğunun da anlaşılmasına katkı sağlayacaktır.

References

  • Acemoglu, D. (2012). “Introduction to Economic Growth”, Journal of Economic Theory, 147(2), 545-550.
  • Acemoglu, D. and Azar, P.D. (2020). “Endogenous Production Networks”, Econometrica, 88(1), 33-82.
  • Aiyar, S. and Ebeke, C. (2020). “Inequality of Opportunity, Inequality of Income and Economic Growth”. World Development, 136, 105-115.
  • Alesina, A. and Rodrik, D. (1994). “Distributive Politics and Economic Growth”. The Quarterly Journal of Economics, 109(2), 465-490.
  • Ali, M.S., Ahemed, I.A., Mubeen, H. and Shah, S.S. (2022). “Innovations, Income Inequality, and Economic Growth Linkages: A Cross Country Analysis”. Journal of Business & Economics, 14(1), 76-87.
  • Ali, T.M., Kiani, A.K., Bashir, T. and Khan, T.N. (2021). “R&D Expenditure as An Accelerator of Economic Growth with Special Reference to Developing Countries”, Journal of Business and Social Review in Emerging Economies, 7(3), 561-589.
  • Baltagi, B. H. (2021). “Introduction: Econometric Analysis of Panel Data”, Springer Texts in Business and Economics, Sixth Edition, Springer, Cham.
  • Barro, R.J. (2000), “Inequality and Growth in a Panel of Countries”, Journal of Economic Growth, 5(1), 5-32.
  • Bosworth, B. and Collins, S.M. (2003). “The Empirics of Growth: An Update”. Brookings Papers on Economic Activity, 2003(2), 113-206.
  • 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.
  • Brueckner, M. and Lederman, D. (2018). Inequality and Economic Growth: The Role of Initial Income”, Journal of Economic Growth, 23(3), 341-366.
  • Clarke, G.R. (1995), “More Evidence on Income Distribution and Growth”, Journal of Development Economics, 47(2), 403-427.
  • Cobb, C.W. and Douglas, P.H. (1928). “A Theory of Production”, American Economic Review, Papers and Proceedings of the Fortieth Annual Meeting of the American Economic Association, 18(1), 139-165.
  • Croissant, Y. and Millo, G. (2008), “Panel Data Econometrics in R: The plm Package”. Journal of Statistical Software, 27(2), 1-43.
  • Croissant, Y. and Millo, G. (2019), “Panel Data Econometrics with R”. John Wiley & Sons.
  • Espoir, D.K. and Ngepah, N. (2021). “Income Distribution and Total Factor Productivity: A Cross-Country Panel Cointegration Analysis”, International Economics and Economic Policy, 18(4), 661-698.
  • Forbes, K. J. (2000). “A Reassessment of the Relationship between Inequality and Growth”, American Economic Review, 90(4), 869-887.
  • Göçer, I. (2013). “Ar-Ge Harcamalarının Yüksek Teknolojili Ürün İhracatı, Dış Ticaret Dengesi ve Ekonomik Büyüme Üzerindeki Etkileri”, Maliye Dergisi, 165, 215-240.
  • Griliches, Z. (1996). The discovery of the residual: a historical note. Journal of Economic Literature, 34(3), 1324-1330.
  • Grossman, G.M., & Helpman, E. (1994). “Endogenous Innovation in the Theory of Growth”, Journal of Economic Perspectives, 8(1), 23-44.
  • Han, G., Kalirajan, K. and Singh, N. (2004). “Productivity, Efficiency and Economic Growth: East Asia and the Rest of the World”, The Journal of Developing Areas, 37(2), 99-118.
  • Hausman, J.A. (1978). “Specification Tests in Econometrics”, Econometrica, 46(6), 1251-1271.
  • Inekwe, J.N. (2015). “The Contribution of R&D Expenditure to Economic Growth in Developing Economies”, Social Indicators Research, 124(3), 727-745.
  • Kamacı, A., Ceyhan, M.S. and Peçe, M.A. (2019). “Toplam Faktör Verimliliğinin Ekonomik Büyümeye Etkisi: 15 OECD Ülkesi İçin Panel Veri Analizi”, AÇÜ Ulusrararası Sosyal Bililmler Dergisi, 5(1), 22-36.
  • Khan, S. and Pazir, D. (2023). “Innovation, Economic Growth, and Inequalities: A Panel Dynamic Threshold Analysis for Dynamic Economies”, Annals of Financial Economics, 18(03), 2350004.
  • Kuznets, S. (1955). “Economic Growth and Income Inequality”, The American Economic Review, 45(1), 1-28.
  • Lee, W.J. and Xuan, Y. (2019). “Effects of Technology and Innovation Management and Total Factor Productivity on the Economic Growth of China”, Journal of Asian Finance, Economics and Business, 6(2), 63-73.
  • Mankiw, N.G. (2021). “Principles of Economics”, Third Edition, Cengage Learning.
  • Nogueira, M.C. and Madaleno, M. (2021). “Are International Indices Good Predictors of Economic Growth? Panel Data and Cluster Analysis for European Union Countries”, Sustainability, 13(11), 6003.
  • Odhiambo, N.M. (2022). “Information Technology, Income Inequality and Economic Growth in Sub-Saharan African Countries”, Telecommunications Policy, 46(6), 102309.
  • Persson, T. and Tabellini, G. (1994). “Is Inequality Harmful for Growth?”, The American Economic Review, 84(3), 600-621.
  • 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.
  • Romer, P.M. (1994). “The Origins of Endogenous Growth”, Journal of Economic Perspectives, 8(1), 3-22.
  • Samimi, A.J. and Alerasoul, S.M. (2009). “R&D and Economic Growth: New Evidence from Some Developing Countries”, Australian Journal of Basic and Applied Sciences, 3(4), 3464-3469.
  • Schreyer, P. and Pilat, D. (2001). “Measuring Productivity”. OECD Economic Studies, 33(2), 127-170.
  • Sokolov-Mladenović, S., Cvetanović, S. and Mladenović, I. (2016). “R&D Expenditure and Economic Growth: EU28 Evidence for the Period 2002-2012”, Economic Research-Ekonomska Istraživanja, 29(1), 1005-1020.
  • Solow, R.M. (1956). “A Contribution to the Theory of Economic Growth”. Quarterly Journal of Economics, 70(1), 65-94.
  • Westerlund, J. (2005). "New Simple Tests for Panel Cointegration", Econometric Reviews, 24(3), 297-316.
  • Westerlund, J. (2007). "Testing for Error Correction in Panel Data", Oxford Bulletin of Economics and Statistics, 69(6), 709-748.
  • Wooldridge, J.M. (2010). “Econometric Analysis of Cross Section and Panel Data”, MIT Press.

Effects of Productivity, R&D and Income Inequality on Economic Growth: An Empirical Estimation Using Panel Data

Year 2025, Volume: 59 Issue: 1, 47 - 60, 22.01.2025
https://doi.org/10.51551/verimlilik.1510434

Abstract

Purpose: The purpose of this paper is to empirically consider the effects of Total Factor Productivity (TFP), R&D, and income inequality on economic growth using panel data covering a broad range of developing and developed countries.
Methodology: Panel data on relevant variables observed between 1998 and 2018 for 29 countries were analyzed. Cross-sectional dependence and stationarity tests of the variables were performed, then panel data regression models were tested and parameters were estimated. Then, the most appropriate model was determined and model assumptions such as autocorrelation, heteroskedasticity and cross-sectional dependence of model errors were tested. In all analyses, R statistical program was used.
Findings: According to the analysis results, it has been determined that while productivity and R&D variables affect economic growth positively, increasing of income inequality also affects economic growth negatively.
Originality: This research fills the gap in the literature in some ways: Our analysis covers a wider range of countries in both developing as well as developed countries, and emphasizes on recent period Gini coefficients, R&D expenditures, and productivity, from 1998 to 2018. Furthermore, the results of this research will not only facilitate the economic policymakers of the countries but will also be effective in realizing how important R&D expenditures and productivity are in economic growth.

Thanks

This study was produced from a part of the corresponding author’s Ph.D. thesis at Marmara University, Department of Quantitative Methods.

References

  • Acemoglu, D. (2012). “Introduction to Economic Growth”, Journal of Economic Theory, 147(2), 545-550.
  • Acemoglu, D. and Azar, P.D. (2020). “Endogenous Production Networks”, Econometrica, 88(1), 33-82.
  • Aiyar, S. and Ebeke, C. (2020). “Inequality of Opportunity, Inequality of Income and Economic Growth”. World Development, 136, 105-115.
  • Alesina, A. and Rodrik, D. (1994). “Distributive Politics and Economic Growth”. The Quarterly Journal of Economics, 109(2), 465-490.
  • Ali, M.S., Ahemed, I.A., Mubeen, H. and Shah, S.S. (2022). “Innovations, Income Inequality, and Economic Growth Linkages: A Cross Country Analysis”. Journal of Business & Economics, 14(1), 76-87.
  • Ali, T.M., Kiani, A.K., Bashir, T. and Khan, T.N. (2021). “R&D Expenditure as An Accelerator of Economic Growth with Special Reference to Developing Countries”, Journal of Business and Social Review in Emerging Economies, 7(3), 561-589.
  • Baltagi, B. H. (2021). “Introduction: Econometric Analysis of Panel Data”, Springer Texts in Business and Economics, Sixth Edition, Springer, Cham.
  • Barro, R.J. (2000), “Inequality and Growth in a Panel of Countries”, Journal of Economic Growth, 5(1), 5-32.
  • Bosworth, B. and Collins, S.M. (2003). “The Empirics of Growth: An Update”. Brookings Papers on Economic Activity, 2003(2), 113-206.
  • 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.
  • Brueckner, M. and Lederman, D. (2018). Inequality and Economic Growth: The Role of Initial Income”, Journal of Economic Growth, 23(3), 341-366.
  • Clarke, G.R. (1995), “More Evidence on Income Distribution and Growth”, Journal of Development Economics, 47(2), 403-427.
  • Cobb, C.W. and Douglas, P.H. (1928). “A Theory of Production”, American Economic Review, Papers and Proceedings of the Fortieth Annual Meeting of the American Economic Association, 18(1), 139-165.
  • Croissant, Y. and Millo, G. (2008), “Panel Data Econometrics in R: The plm Package”. Journal of Statistical Software, 27(2), 1-43.
  • Croissant, Y. and Millo, G. (2019), “Panel Data Econometrics with R”. John Wiley & Sons.
  • Espoir, D.K. and Ngepah, N. (2021). “Income Distribution and Total Factor Productivity: A Cross-Country Panel Cointegration Analysis”, International Economics and Economic Policy, 18(4), 661-698.
  • Forbes, K. J. (2000). “A Reassessment of the Relationship between Inequality and Growth”, American Economic Review, 90(4), 869-887.
  • Göçer, I. (2013). “Ar-Ge Harcamalarının Yüksek Teknolojili Ürün İhracatı, Dış Ticaret Dengesi ve Ekonomik Büyüme Üzerindeki Etkileri”, Maliye Dergisi, 165, 215-240.
  • Griliches, Z. (1996). The discovery of the residual: a historical note. Journal of Economic Literature, 34(3), 1324-1330.
  • Grossman, G.M., & Helpman, E. (1994). “Endogenous Innovation in the Theory of Growth”, Journal of Economic Perspectives, 8(1), 23-44.
  • Han, G., Kalirajan, K. and Singh, N. (2004). “Productivity, Efficiency and Economic Growth: East Asia and the Rest of the World”, The Journal of Developing Areas, 37(2), 99-118.
  • Hausman, J.A. (1978). “Specification Tests in Econometrics”, Econometrica, 46(6), 1251-1271.
  • Inekwe, J.N. (2015). “The Contribution of R&D Expenditure to Economic Growth in Developing Economies”, Social Indicators Research, 124(3), 727-745.
  • Kamacı, A., Ceyhan, M.S. and Peçe, M.A. (2019). “Toplam Faktör Verimliliğinin Ekonomik Büyümeye Etkisi: 15 OECD Ülkesi İçin Panel Veri Analizi”, AÇÜ Ulusrararası Sosyal Bililmler Dergisi, 5(1), 22-36.
  • Khan, S. and Pazir, D. (2023). “Innovation, Economic Growth, and Inequalities: A Panel Dynamic Threshold Analysis for Dynamic Economies”, Annals of Financial Economics, 18(03), 2350004.
  • Kuznets, S. (1955). “Economic Growth and Income Inequality”, The American Economic Review, 45(1), 1-28.
  • Lee, W.J. and Xuan, Y. (2019). “Effects of Technology and Innovation Management and Total Factor Productivity on the Economic Growth of China”, Journal of Asian Finance, Economics and Business, 6(2), 63-73.
  • Mankiw, N.G. (2021). “Principles of Economics”, Third Edition, Cengage Learning.
  • Nogueira, M.C. and Madaleno, M. (2021). “Are International Indices Good Predictors of Economic Growth? Panel Data and Cluster Analysis for European Union Countries”, Sustainability, 13(11), 6003.
  • Odhiambo, N.M. (2022). “Information Technology, Income Inequality and Economic Growth in Sub-Saharan African Countries”, Telecommunications Policy, 46(6), 102309.
  • Persson, T. and Tabellini, G. (1994). “Is Inequality Harmful for Growth?”, The American Economic Review, 84(3), 600-621.
  • 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.
  • Romer, P.M. (1994). “The Origins of Endogenous Growth”, Journal of Economic Perspectives, 8(1), 3-22.
  • Samimi, A.J. and Alerasoul, S.M. (2009). “R&D and Economic Growth: New Evidence from Some Developing Countries”, Australian Journal of Basic and Applied Sciences, 3(4), 3464-3469.
  • Schreyer, P. and Pilat, D. (2001). “Measuring Productivity”. OECD Economic Studies, 33(2), 127-170.
  • Sokolov-Mladenović, S., Cvetanović, S. and Mladenović, I. (2016). “R&D Expenditure and Economic Growth: EU28 Evidence for the Period 2002-2012”, Economic Research-Ekonomska Istraživanja, 29(1), 1005-1020.
  • Solow, R.M. (1956). “A Contribution to the Theory of Economic Growth”. Quarterly Journal of Economics, 70(1), 65-94.
  • Westerlund, J. (2005). "New Simple Tests for Panel Cointegration", Econometric Reviews, 24(3), 297-316.
  • Westerlund, J. (2007). "Testing for Error Correction in Panel Data", Oxford Bulletin of Economics and Statistics, 69(6), 709-748.
  • Wooldridge, J.M. (2010). “Econometric Analysis of Cross Section and Panel Data”, MIT Press.
There are 40 citations in total.

Details

Primary Language English
Subjects Statistics (Other)
Journal Section Araştırma Makalesi
Authors

Hakan Aydoğan 0000-0001-9482-9888

Hakan Yıldırım 0000-0003-0851-4607

Publication Date January 22, 2025
Submission Date July 4, 2024
Acceptance Date November 18, 2024
Published in Issue Year 2025 Volume: 59 Issue: 1

Cite

APA Aydoğan, H., & Yıldırım, H. (2025). Effects of Productivity, R&D and Income Inequality on Economic Growth: An Empirical Estimation Using Panel Data. Verimlilik Dergisi, 59(1), 47-60. https://doi.org/10.51551/verimlilik.1510434

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