The Impact of Industry 4.0 on Economic Growth: An Empirical Analysis for Innovative Economies

Yıl 2020, Ejosat Özel Sayı 2020 (ISMSIT), 305 - 312, 30.11.2020

Hicran Kasa

https://doi.org/10.31590/ejosat.823569

Cited By: 4

Öz

The concept of industrialization defines the change not only in the economic welfare of countries but also in social areas, due to the increase in the share of rising production in GDP with the use of developing technologies. The information society has been formed with mechanical and electronic changes, and the information revolution has taken place with the integration of communication technologies and computers into this process. In this context, the last industrial revolution known as Industry 4.0 has become very important with the changes and transformations created by smart production systems and advanced information-communication technologies in industrialization. The Slow growth model has been argued that the source of economic growth is not only capital, labor, and capital accumulation for the per worker but also technological developments and innovation, which are considered as external factors in the long run. Based on this argument, the aim of the study is to statistically examine the development of countries that have succeeded in integrating with the Industry 4.0 process and/or have succeeded in the necessary reforms in the process of adaptation. R&D expenditures, high technology product exports (HTE), human capital index, direct foreign capital investments, and hıgh technology export impact on economic growth have analyzed by using the system GMM model for the selected innovative economies.

Anahtar Kelimeler

Industry 4.0, System GMM, Economic Growth, Innovation

Endüstri 4.0’ın Ekonomik Büyümeye Etkisi: Yenilikçi Ekonomilere Yönelik Ampirik bir Analiz

Öz

Endüstrileşme kavramı, gelişen teknolojilerin kullanımı ile artan üretimin GSYH içindeki payının artması dolaysıyla ülkelerin sadece iktisadi olarak refahının yanı sıra sosyal alanlarda da değişimini nitelendirmektedir. Mekanik ve elektronik değişimler ile bilgi toplumu oluşmuş, iletişim teknolojileri ve bilgisayarların sürece entegre edilmesi ile de enformasyon devrimi gerçekleşmiştir. Bu bağlamda, günümüzde Endüstri 4.0 olarak bilinen son sanayi devrimi, akıllı üretim sistemlerinin ve gelişmiş bilgi- iletişim teknolojilerinin endüstrileşmede yarattığı değişim ve dönüşümleriyle oldukça önemli hale gelmiştir. Solow büyüme modeli uzun dönemde ekonomik büyümenin tek kaynağının sermaye, emek ve işçi başına sermaye birikiminin yanı sıra dışsal faktörler olarak kabul edilen teknolojik gelişmeler ve inovasyon olduğunu savunmaktadır. Bu kapsamda, Endüstri 4.0 sürecine entegre olmayı başaran ve/veya uyum noktasında gerekli reformları yapmayı başarmış yenilikçi ülkelerin gelişim sürecini incelemek bu çalışmanın amacıdır. Sistem GMM modeli kullanarak seçilmiş 16 ülkenin; Ar-Ge harcamaları, yüksek teknoloji ürün ihracatları, beşeri sermaye endeksi, doğrudan yabancı sermaye yatırımları ve patent başvurularının ekonomik büyümeye etkisi incelenmiştir. Elde edilen sonuçlar yüksek teknoloji ihracatı ve doğrudan yabancı sermaye yatırımlarının kişi başına GSYH’a pozitif etki ettiğini göstermektedir.

Anahtar Kelimeler

Endüstri 4.0, Sistem GMM, Kişi Başına GSYH

Kaynakça

• Arellano, M., and S. Bond. 1991. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies 58: 277–297.
• Arellano, M., and O. Bover. 1995. Another look at the instrumental variable estimation of error-components models. Journal of Econometrics 68: 29–51.
• Bakkari, M., & Khatory, A. (2017, April). Industry 4.0: Strategy for more sustainable industrial development in SMEs. In Proceedings of the IEOM 7th International Conference on Industrial Engineering and Operations Management, Rabat, Morocco (pp. 11-13).
• Blundell, R., and S. Bond (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics 87: 115–143.
• Bogliacino F, Vivarelli M (2012) The job creation effect of R&D expenditures. Aust Econ Pap 51(2):96– 113.
• Buerger M, Broekel T, Coad A (2012) Regional dynamics of innovation: investigating the co-evolution of patents, research and development (R&D), and employment. Reg Stud 46(5):565–582.
• Bulut, E. (2019). Endüstri 4.0'ın gelişimi, Türkiye ve dünya üzerindeki olası etkileri (Master's thesis, Adnan Menderes Üniversitesi Sosyal Bilimler Enstitüsü).
• Barreto, L., Amaral, A. and Pereira, T. (2017), “Industry 4.0 implications in logistics: an overview”, Procedia Manufacturing, Vol. 13, pp. 1245-1252.
• Bogliacino, F. (2014). Innovation and employment: A firm-level analysis with European R&D Scoreboard data. Economia, 15(2), 141-154.
• Brynjolfsson, E., & Hitt, L. (1996). Paradox lost? Firm-level evidence on the returns to information systems spending. Management Science, 42(4), 541-558.
• Dutton, H. W. (2014). Putting things to work: Social and policy challenges for the Internet of things. Info, 16, 1-21. doi:10.1108/info-09-2013-0047
• Emara, N., & Kasa, H. (2020). The non-linear relationship between financial access and domestic savings: the case of emerging markets. Applied Economics, 1-19.
• Feldmann, H. (2013). Technological unemployment in industrial countries. Journal of Evolutionary Economics, 23(5), 1099-1126.
• Forrest, E., Hoanca, B. (2015). Artificial intelligence: Marketing’s game-changer. In Tsiakis, T. (Ed.), Trends and innovations in marketing information systems (pp. 45–64). Hersey, PA: IGI Global.
• Gabriel, M., & Pessl, E. (2016). Industry 4.0 and sustainability impacts: Critical discussion of sustainability aspects with a special focus on future of work and ecological consequences. ANNALS of Faculty Engineering Hunedoara International Journal of Engineering, 14(2), 131–136.
• Göçer, Ġ. (2013). Ar&Ge Harcamalarının Yüksek Teknolojili Ürün Ġhracatı, DıĢ Ticaret Dengesi ve Ekonomik Büyüme Üzerindeki Etkileri. Maliye Dergisi, 165(2), 215-240.
• Görçün, Ö. F. (2016). Dördüncü endüstri devrimi endüstri 4.0. Beta Yayıncılık, İstanbul.
• Hofmann, E., & Rüsch, M. (2017). Industry 4.0 and the current status as well as future prospects on logistics. Computers in Industry, 89, 23–34.
• Holtz-Eakin, D., W. Newey, and H. S. Rosen. 1988. Estimating vector autoregressions with panel data. Econometrica 56: 1371–1395.
• Kagermann, H. (2015). Change through digitization—Value creation in the age of Industry 4.0. In Management of permanent change (pp. 23-45). Springer Gabler, Wiesbaden.
• Kabaklarlı, E. ve Atasoy, B.S, (2017) Türkiye İmalat Sanayinin Büyümesi ve Verimliliğin Geleceğinde endüstri 4.0’ın Rolü Dinamik Panel Veri Analizi. İktisadi Araştırmalar vakfı Yayınları. Şişli İstanbul.
• Kabaklarlı, E. (2016). Endüstri 4.0 ve Paylaşım Ekonomisi, Dünya ve Türkiye ekonomisi için Fırsat ve Tehditler, Nobel Yayın, Konya.
• Kagermann, H. (2013). Recommendations for implementing the strategic initiative Industrie 4.0. Munchen: National Academy of Science Engineering.
• Kasa, H. ve Arslan, G. (2020). Endüstri 4.0 Kapsamında Teorik Bir Analiz: Türkiye Örneği. Elektronik Sosyal Bilimler Dergisi, 19(76), 1810-1826.
• Li, J. and Yang, H. (2017), “A research on development of construction industrialization based on BIM technology under the background of Industry 4.0”, MATEC Web of Conferences, EDP Sciences, Vol. 100, p. 02046.
• Lucas Jr, R. E. (1988). On the mechanics of economic development. Journal of monetary economics, 22(1), 3-42.
• Morrison, C. J., & Berndt, E. R. (1990). Assessing the Productivity of Information Technology Equipment in US Manufacturing Industries NBER Working Paper# 3582.
• Michelacci C, Lopez-Salido D (2007) Technology shocks and job flows. Rev Econ Stud 74(4):1195–1227.
• Nascimento, D. L. M., Alencastro, V., Quelhas, O. L. G., Caiado, R. G. G., Garza-Reyes, J. A., Rocha-Lona, L., & Tortorella, G. (2019). Exploring Industry 4.0 technologies to enable circular economy practices in a manufacturing context. Journal of Manufacturing Technology Management.
• Roblek, V., Meško, M., & Krapež, A. (2016). A complex view of industry 4.0. Sage Open, 6(2), 2158244016653987.
• Rojko, A. (2017). Industry 4.0 concept: Background and overview. International Journal of Interactive Mobile Technologies 5(11), 77–90.
• Romer, P. M. (1986). Increasing returns and long-run growth. Journal of political economy, 94(5), 1002-1037.
• Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. The stata journal, 9(1), 86-136.
• Schumpeter, J. (1911). The theory of economic development. Harvard Economic Studies. Vol. XLVI.
• Schumpeter, J. A. (1939). Business cycles (Vol. 1, pp. 161-174). New York: McGraw-Hill.
• Stăncioiu, A. (2017). The fourth industrial revolutıon: “Industry 4.0”. Fiability & Durability, 1, 74–78.
• Trompisch, P. (2017). “The implications of Industry 4.0 on the future of work [industrie 4.0 und die zukunft der arbeit]”, Elektrotechnik und Informa- tionstechnik, Vol. 134 No. 7, pp. 370-373.
• Yu, J., Subramanian, N., Ning, K., Edwards, D. (2015). Product delivery service provider selection and customer satisfaction in the era of Internet of things: A Chinese e-retailers’ perspective. International Journal of Production Economics, 159, 104-116. doi:10.1016/j.ijpe.2014.09.031
• Wagner, T. (2016). Industry 4.0 as enabler for sustainable lifestyles. Unconference 2016–INSIGHTS Workstudio, 4, 1–7.
• Wagner, T., Herrmann, C. and Thiede, S. (2017), “Industry 4.0 impacts on lean production systems”, Vol. 63, pp. 125-131.
• Weiss M, Garloff A (2011) Skill-based technological change and endogenous benefits: the dynamics of unemployment and wage inequality. Appl Econ 43(7–9):811–821.