Analysis of the Relationship between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis

Alper Akpınar; Mert Abay; Mahir Tosunoğlu; Bülent Kılıç; Sedef Akgüngör

doi:10.33818/ier.1731218

Analysis of the Relationship between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis

Abstract

The study examines the impact of pharmaceutical R&D expenditures on pharmaceutical foreign trade by utilizing macro and microdata. The macro data is sourced from open-access databases provided by OECD and TURKSTAT, while the microdata analysis was conducted at the TURKSTAT data research center. The macro-level data analysis involves a cointegration test followed by estimating long-term coefficients. The results indicate that pharmaceutical R&D expenditures positively affect pharmaceutical exports in the long run, while they negatively affect pharmaceutical imports. In addition, pharmaceutical R&D expenditures positively affect total exports but not total imports. The micro-level data analysis involves POLS, fixed and random effect panel models. The findings reveal that pharmaceutical firm’s R&D expenditure is positively correlated with exports and negatively correlated with imports. The macro and micro data findings align with our expectations, reinforcing each other intensely.

Keywords

Supporting Institution

TÜBİTAK/This study was supported by TUBITAK (the Scientific and Technological Research Council of Turkey). TUBITAK-ARDEB 1004 Research Project No: 20AG006.

Project Number

20AG006

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Details

Primary Language

English

Subjects

Panel Data Analysis, Applied Macroeconometrics, Time-Series Analysis

Journal Section

Research Article

Authors

Alper Akpınar ^*
0000-0003-3130-9898
Türkiye

Mert Abay
0000-0003-3941-3200
Türkiye

Mahir Tosunoğlu
0000-0002-9941-0151
Türkiye

Bülent Kılıç
0000-0001-7032-1422
Türkiye

Sedef Akgüngör
0000-0002-5178-8948
Türkiye

Publication Date

February 23, 2026

Submission Date

June 30, 2025

Acceptance Date

October 27, 2025

Published in Issue

Year 2026 Volume: 17 Number: 2

DOI

https://doi.org/10.33818/ier.1731218

IZ

https://izlik.org/JA55GP42XE

Cite

RIS / Bibtex

APA

Akpınar, A., Abay, M., Tosunoğlu, M., Kılıç, B., & Akgüngör, S. (2026). Analysis of the Relationship between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis. International Econometric Review, 17(2), 1-17. https://doi.org/10.33818/ier.1731218

AMA

1.Akpınar A, Abay M, Tosunoğlu M, Kılıç B, Akgüngör S. Analysis of the Relationship between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis. IER. 2026;17(2):1-17. doi:10.33818/ier.1731218

Chicago

Akpınar, Alper, Mert Abay, Mahir Tosunoğlu, Bülent Kılıç, and Sedef Akgüngör. 2026. “Analysis of the Relationship Between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis”. International Econometric Review 17 (2): 1-17. https://doi.org/10.33818/ier.1731218.

EndNote

Akpınar A, Abay M, Tosunoğlu M, Kılıç B, Akgüngör S (February 1, 2026) Analysis of the Relationship between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis. International Econometric Review 17 2 1–17.

IEEE

[1]A. Akpınar, M. Abay, M. Tosunoğlu, B. Kılıç, and S. Akgüngör, “Analysis of the Relationship between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis”, IER, vol. 17, no. 2, pp. 1–17, Feb. 2026, doi: 10.33818/ier.1731218.

ISNAD

Akpınar, Alper - Abay, Mert - Tosunoğlu, Mahir - Kılıç, Bülent - Akgüngör, Sedef. “Analysis of the Relationship Between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis”. International Econometric Review 17/2 (February 1, 2026): 1-17. https://doi.org/10.33818/ier.1731218.

JAMA

1.Akpınar A, Abay M, Tosunoğlu M, Kılıç B, Akgüngör S. Analysis of the Relationship between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis. IER. 2026;17:1–17.

MLA

Akpınar, Alper, et al. “Analysis of the Relationship Between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis”. International Econometric Review, vol. 17, no. 2, Feb. 2026, pp. 1-17, doi:10.33818/ier.1731218.

Vancouver

1.Alper Akpınar, Mert Abay, Mahir Tosunoğlu, Bülent Kılıç, Sedef Akgüngör. Analysis of the Relationship between R&D and Pharmaceutical Foreign Trade: A Macro and Micro Data Analysis. IER. 2026 Feb. 1;17(2):1-17. doi:10.33818/ier.1731218