Research Article

IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS

Volume: 16 Number: 1 March 31, 2018
EN TR

IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS

Abstract

Industry 4.0 or 4th Industrial Revolution is a phenomenon, which is being discussed more day by day all around the world, and it is undoubtedly a fact to be taken into consideration with all aspects of the situation because it is the latest generation of the revolutions. From this perspective, in this paper, the relationship between drivers of production of industry 4.0 and manufacturing value added that is the core of economic development/growth is determined using panel data covering the nine leading countries in the industry 4.0 process over the period 1996-2015. Empirical results of this study was applied by the Dumitrescu-Hurlin (2012) panel Granger causality test, which takes into account cross-sectional dependence indicate one-way causality from capital intensity to manufacturing value added, two-way causality between R&D expenditures as a share of GDP and manufacturing value added in the selected country group. In addition, empirical findings showed that greater capital intensity and R&D expenditures of GDP, which are the input variables of industry 4.0 process significantly increase manufacturing value added, which is the one of the output variables of the process.

Keywords

References

  1. Alçın, S.; Endüstri 4.0 ve İnsan Kaynakları, Popüler Yönetim Dergisi, 2016,Sayı 63Balan, Feyza. (2015). Testing the Demographic Economic Paradox for Newly Industrialized Countries A Panel Data Analysis. Economic Insights- Trends and Challanges, 67(2), 1-10 Breusch, T., Pagan, A. (1980). The Lagrange multiplier test and its application to model specifications in econometrics. Rev. Econ. Stud. 47 (1), 239–253.Drath R., Horch Alexander, “Industrie 4.0: Hit or Hype”, IEEE Industrial Electronics Magazine , Cİlt: 8, Sayı: 2, 2014.Dumitrescu, Elena-Ivona and Hurlin, Christophe. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29(4), 1450-1460.Ener Meliha, Kiliç Cüneyt, Balan Feyza, Kurt Ünzüle (2017). Entrepreneurship, Political and Financial Stability And Their Impact On Economic Growth: A Panel Data Analysis For Selected EU Countries. 13th International Conference on Knowledge, Economy Management Proceedings Fırat, S., U., Fırat, O., Z.; Sanayi 4.0 Üzerine Karşılaştırmalı Bir İnceleme: Kavramlar, Küresel Gelişmeler ve Türkiye, Toprak İşveren Dergisi, Sayı:114, 2017 .Hadri, K., and Kurozumi, E. (2012). A Simple Panel Stationarity Test in the Presence of Serial Correlation and a Common Factor, Economics Letters, 115, 31–34http://www.endustri40.com/endustri-tarihine-kisa-bir-yolculuk/ (01.03.2018)https://www.i-scoop.eu/industry-4-0/ (01.03.2018)https://www.plex.com/blogs/industry-4-0-advancements-in-manufacturing-technology.html (01.03.2018)Kiliç Cüneyt, Arıca Balan Feyza (2014). Economic Freedom Inflation Rate And Their Impact On Economic Growth A Panel Data Analysis. Romanian Journal of Economic Forecasting, 17(1):160-176. O'Connell, P. (1998), “The Overvaluation of Purchasing Power Parity”, Journal of International Economics, 44, 1-19.Öztürk, E., Koç, K. H.; Endüstri 4.0 ve Mobilya Endüstrisi, 4.Uluslararası Mobilya ve Dekorasyon Kongresi, Düzce / Türkiye, Ekim 2017.Pesaran, M. H. (2006). Estimation and inference in large heterogeneous panels with multifactor error structure, Econometrica, 74, 967-1012.Pesaran, M.H., (2007), “A simple panel unit root test in the presence of cross section dependence”, Journal of Applied Econometrics, 22, 265-312.PwC, 2016 Global Industry 4.0 Survey, Nisan 2016.Torun Mustafa, Kiliç Cüneyt, Balan Feyza (2017). The Effects of Political Risk and GDP on Oil Product Imports: A Panel Analysis for Selected Oil-Dependent Countries. International Congress of Energy Economy and Security (ENSCON) World Bank, http://data.worldbank.org/indicator, (01.03.2018).

Details

Primary Language

Turkish

Subjects

-

Journal Section

Research Article

Publication Date

March 31, 2018

Submission Date

April 4, 2018

Acceptance Date

April 25, 2018

Published in Issue

Year 2018 Volume: 16 Number: 1

APA
Aydın, E. (2018). IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS. Journal of Management and Economics Research, 16(1), 303-314. https://doi.org/10.11611/yead.416806
AMA
1.Aydın E. IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS. Journal of Management and Economics Research. 2018;16(1):303-314. doi:10.11611/yead.416806
Chicago
Aydın, Erdal. 2018. “IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS”. Journal of Management and Economics Research 16 (1): 303-14. https://doi.org/10.11611/yead.416806.
EndNote
Aydın E (March 1, 2018) IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS. Journal of Management and Economics Research 16 1 303–314.
IEEE
[1]E. Aydın, “IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS”, Journal of Management and Economics Research, vol. 16, no. 1, pp. 303–314, Mar. 2018, doi: 10.11611/yead.416806.
ISNAD
Aydın, Erdal. “IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS”. Journal of Management and Economics Research 16/1 (March 1, 2018): 303-314. https://doi.org/10.11611/yead.416806.
JAMA
1.Aydın E. IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS. Journal of Management and Economics Research. 2018;16:303–314.
MLA
Aydın, Erdal. “IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS”. Journal of Management and Economics Research, vol. 16, no. 1, Mar. 2018, pp. 303-14, doi:10.11611/yead.416806.
Vancouver
1.Erdal Aydın. IMPACT OF CAPITAL INTENSITY AND R&D SPENDING ON MANUFACTURING INDUSTRY VALUE ADDED IN INDUSTRY 4.0 PROCESS: PANEL DATA ANALYSIS. Journal of Management and Economics Research. 2018 Mar. 1;16(1):303-14. doi:10.11611/yead.416806