The Relationship between R&D Expenditures and Economic Growth in BRICS-T Countries

Yıl 2022, Cilt: 17 Sayı: 3, 893 - 910, 01.12.2022

Yüksel Bayraktar , Necip Dündar , Ayfer Özyılmaz

https://doi.org/10.17153/oguiibf.1151022

Cited By: 4

Öz

R&D, which is one of the main determinants of technological development, has a critical role in determining the development differences between countries. The fact that developing countries as well as developed countries start to allocate more funds to R&D expenditures causes the literature on this subject to remain up-to-date. The aim of this study is to examine the relationship between R&D expenditures and growth in the period of 2000-2018 in Brazil, Russia, India, China, South Africa, and Turkiye (BRICS-T). In this context, Dumitrescu-Hurlin’s (2012) causality test, Impulse-Response and Variance Decomposition analyzes are used together with the panel VAR approach. According to Dumitrescu-Hurlin (2012) causality test, there is a bidirectional causality relationship between R&D expenditures and growth in BRICS-T countries.

Anahtar Kelimeler

R&D Expenditure, Growth, Panel VAR, BRICS-T

BRICS-T Ülkelerinde Ar-Ge Harcamaları ve Ekonomik Büyüme Arasındaki İlişki

Öz

Teknolojik gelişmenin temel belirleyicilerinden olan Ar-Ge ülkeler arasında gelişmişlik farklarının belirlenmesinde kritik bir role sahiptir. Gelişmiş ülkelerin yanı sıra gelişmekte olan ülkelerin de Ar-Ge harcamalarına daha fazla fon ayırmaya başlaması, bu konudaki literatürün güncelliğini korumasına yol açmaktadır. Bu çalışmanın amacı, 2000-2018 döneminde Ar-Ge harcamaları ve büyüme arasındaki ilişkiyi Brezilya, Rusya, Hindistan, Çin, Güney Afrika ve Türkiye (BRICS-T) için incelemektir. Bu kapsamda panel VAR yaklaşımıyla birlikte Dumitrescu-Hurlin (2012) nedensellik testi, Etki-Tepki ve Varyans Ayrıştırma analizleri kullanılmıştır. Dumitrescu-Hurlin (2012) nedensellik testine göre BRICS-T ülkelerinde Ar-Ge harcamaları ile büyüme arasında çift yönlü nedensellik ilişkisi vardır.

Anahtar Kelimeler

Ar-Ge Harcamaları, Büyüme, Panel VAR, BRICS-T

Kaynakça

• Aggarwal, A. (2001), “Technology Policies and Technological Capabilities in Industry: A Comparative Analysis of India and Korea”, Indian Council for Research on International Economic Relations Working Paper, No. 68.
• Aghion, P.; Howitt, P. (1992), “A Model of Growth Through Creative Destruction”, Econometrica, 60(2), 323-351.
• Altın, O.; Kaya, A. (2009), “Türkı̇ye’de Ar-Ge Harcamaları ve Ekonomı̇k Büyüme Arasındakı̇ Nedensel İlı̇şkı̇nı̇n Analı̇zı̇”, Ege Akademik Bakış, 9(1), 251-259.
• Appiah-Otoo, I.; Song, N. (2021), “The impact of ICT on economic growth-Comparing rich and poor countries”, Telecommunications Policy, 45(2), 102082.
• Arond, E.; Bell, M. (2010), “Trends in the Global Distribution”, STEPS Working Paper(39).
• Barışık, S.; Kesikoğlu, F. (2006), “Türkiye'de Bütçe Açıklarının Temel Makroekonomik Değişkenler Üzerine Etkisi (1987-2003 VAR, Etki-Tepki Analizi, Varyans Ayrıştırması”, Ankara Üniversitesi SBF Dergisi, 61(4), 59-82.
• Barro, R.; Sala-i-Martin, X. (2004), Economic Growth, Second Edition, London, England: The MIT Press.
• Bor, Y. J.; Chuang, Y.-C.; Lai, W.-W.; Yang, C.-M. (2010), “A Dynamic General Equilibrium Model for Public R&D İnvestment İn Taiwan”, Economic Modelling, 27(1), 171-183.
• Bouvet, F.; Brady, R.; King, S. (2013), “Debt Contagion in Europe: A Panel-Vector Autoregressive(VAR) Analysis”, Social Sciences,(2), 318-340.
• Braga de Andrade, R. (2020), “Financing Innovation in Brazil”, The Global Innovation Index 2020, Chapter 10, https://www.wipo.int/edocs/pubdocs/en/wipo_pub_gii_2020.pdf. (Erişim: 14.05.2022).
• Breusch, T.; Pagan, A. (1980), “The Lagrange Multiplier Test and Its Applications to Model Specification in Econometrics”, The Review of Economic Studies, 47(1), 239-253.
• Canova, F.; Ciccarelli, M. (2013), “Panel Vector Autoregressive Models: A Survey”, ECB Working Paper, (1507), 1-53.
• Chen, D.; Zheng, S.; Gou, L. (2015), ” The Impact of Science and Technology Policies on Rapid Economic Development in China”, The Global Innovation Index 2015, Chapter 6, https://www.wipo.int/edocs/pubdocs/en/wipo_pub_gii_2015-chapter6.pdf. (Erişim: 16.05.2022).
• De Negri, J. A.; Lemos, L. B.; De Negri, F. (2006), “The Impact of University Enterprise Incentive Program on the Performance and Technological Efforts of Brazilian Industrıal Firms”, OVE Working Paper, WP-13/06.
• Dereli, D.D.; Salğar, U. (2019), “Ar-Ge Harcamaları ile Büyüme Arasındaki İlişki: Türkiye Üzerine Bir Değerlendirme”, Journal of Life Economics, 3, 345-360.
• Dumitrescu, E.; Hurlin, C. (2012), ”Testing for Granger Non-Causality in Heterogeneous Panels”, Economic Modelling, 29(4), 1450–1460.
• Gaillard, J. (2010), ”Measuring Research and Development in Developing Countries: Main Characteristics and Implications for the Frascati Manual”, Science, Technology & Society, 15(1), 77-111.
• Genç, M. C.; Atasoy, Y. (2010), “Ar&Ge Harcamaları ve Ekonomı̇k Büyüme İlı̇şkı̇sı̇: Panel Verı̇ Analizi”, The Journal of Knowledge Economy & Knowledge Management, 5(2), 27-34.
• Genç, M. C.; Tandoğan, D. (2020), “Türkiye’de AR-GE’nin Ekonomik Büyüme Üzerindeki Etkisi: Fourier Yaklaşımla Kalıntı Temelli Eşbütünleşme Testi”, Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi, 18(2), 339-348.
• Godin , B.; Lane , J. (2012), “A Century of Talks on Research: What Happened to Development and Production?”, Int. J. Transitions and Innovation Systems, 2(1), 5-13.
• Goel , R.; Ram, R. (1994), “Research and Development Expenditures and Economic Growth: A Cross-Country Study”, Economic Development and Cultural Change, 42(2), 403-411.
• Gokhberg, L. (1999), “R&D Statistics in Russia: Changes And Challenges”, Centre For Science Research And Statistics, https://www.ricyt.edu.ar/manuales/doc_view/60-r-d-statistics-in-russia-changes-and-challenges. (Erişim: 15.05.2022).
• Gokhberg, L., (1997), Russian Applied Research and Development: Its Problems and Its Promise, (Ed. Gokhberg, L., Peck, M. J., Gacs, J.), Transformation of the Soviet R&D System, Laxenburg, Austria: International Institute for Applied Systems Analysis.
• Grossman, G.; Helpman, E. (1991), Innovation and Growth in the Global Economy, London: The MIT Press.
• Grossman, G.; Helpman, E. (1994), “Endogenous Innovation in the Theory of Growth”, The Journal of Economic Perspectives, 8(1), 23-44.
• Gülmez, A.; Yardımcıoğlu, F. (2012), “OECD Ülkelerinde Ar-Ge Harcamaları ve Ekonomik Büyüme İlişkisi: Panel Eşbütünleşme ve Panel Nedensellik Analizi”, Maliye Dergisi(163), 335-353.
• Gyekye, A., Oseifuah , E.; Quarshie, G. V. (2012), “The Impact of Research and Development on Socio-Economic”, Journal of Emerging Trends in Economics and Management Sciences (JETEMS), 3(6), 915-922.
• Hall, B. (2006), “Research and Development”, International Encyclopedia of the Social Sciences, https://eml.berkeley.edu/~bhhall/papers/BHH06_IESS_R&D.pdf (Erişim: 14.01.2022).
• Hasan, I.; Tucci, C. (2010), “The Innovation–Economic Growth Nexus: Global Evidence”, Research Policy, 39(10), 1264-1276.
• IBEF (2022), “Science and R&D Industry Report”, https://www.ibef.org/industry/science-and-technology#. (Erişim: 16.05.2022).
• Karagöl, E. T.; Karahan, H. (2014), “Yeni Ekonomi Ar-Ge ve İnovasyon”, SETA, Sayı:82.
• Khan, J.; Khattak, N. (2014), “The Significance of Research and Development for Economic Growth: The Case of Pakistan”, MPRA Paper(563005).
• Korkmaz, S. (2010), “Türkı̇ye’de Ar‐Ge Yatırımları ve Ekonomı̇k Büyüme Arasındakı̇ İlişkinin Var Modelı̇ ile Analı̇zı̇", Journal of Yasar University, 20(5), 3320‐3330.
• Li, P. (2010), “Study on Relationship between R&D Expenditure and Economic Growth of China”, Proceedings of the 7th International Conference on Innovation & Management, 1725-1728.
• Lichtenberg, F. (1992), “R&D Investment and International Productivity Differences”, NBER Working Paper (4161).
• Lucas, R.E. (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22, 3-42.
• Mamphiswana, R. (2022), “Positioning the South African Economy for New Industries: Policy Lessons from East Asia”, SARChI Industrial Development Working Paper Series, WP 2022-05.
• Meçik, O. (2014), “Ar-Ge Harcamalarının Ekonomik Gelişmişlik Üzerindeki Etkileri” Uluslararası Sosyal Araştırmalar Dergisi, 7(32), 669- 674.
• Mladenović, S. S.; Cvetanović, S.; Mladenović, I. (2016), “R&D Expenditure and Economic Growth: EU28”, Economic Research-Ekonomska Istraživanja, 29(1), 1005-1020.
• Mudronja, G.; Jugović, A.; Škalamera-Alilović, D. (2019), “Research and Development and Economic Growth: EU Port Regions”, Zb. rad. Ekon. fak. Rij., 37 (2), 587-602.
• NTSI (2021), “Reviewing the Design, Implementation and Impact of South Africa’s Research and Development Tax Incentive”, National Treasury Science and Innovation (NTSI), http://www.treasury.gov.za/comm_media/press/2021/. (Erişim: 18.05.2022).
• Ortega, C. B.; Marín, Á. G. (2011), “R&D and Productivity: A Two Way Avenue?”, World Development, 7(39), 1090-1107.
• Pesaran, M. (2004), “General Diagnostic Tests for Cross Section Dependence in Panels”, IZA Dİscussion Paper, 1240.
• Pesaran, M.H., Yamagata, T. (2008), “Testing slope homogeneity in large panels”, Journal of Econometric, 142(1), 50–93.
• Rocha, C. (2018), “Impact Evaluation of Innovation Policy in Brazil”, CAF–Working paper, No. 2018/15.
• Romer, P. (1986), “Increasing Returns and Long-Run Growth”, The Journal of Political Economy, 94(5), 1002-1037.
• Sargent Jr., J. (2018), “Global Research and Development”, Congressional Research Service. R44283.
• Schweiger, H., Stepanov, A., Zacchia, P. (2018), “The Long-Run Effects of R&D Place-Based Policies: Evidence From Russian Science Cities”, EBRD Working Paper, No. 216.
• Sheeja, S.R. (2014), “Resource, Development and Innovation in the Indian Industry”, Annual Research Journal of SCMS, 2(1), 103-116.
• Solow, R. (1956), “A Contribution to the Theory of Economic Growth”, Quarterly Journal of Economics, 70(1), 65-94.
• Surani, S., Gendron, W.; Maredia, S. (2017), “The Economic Impact of Research and Development”, Econometrics, 3161, 1-20.
• Swan, T. (1956), “Economic Growth and Capital Accumulation”, Economic Record, 32(63), 334-361.
• Tatoğlu, F. Y. (2020), Panel Zaman Serileri Analizi, 3.Baskı, İstanbul: Beta Yayımcılık.
• Taylor, M.P.; Sarno, L. (1998), “The behavior of real exchange rates during the postBretton Woods period”, Journal of International Economics, 46 (1998) 281–312.
• Türedi, S. (2016), “The Relationship between R&D Expenditures, Patent Applications and Growth: A Dynamic Panel Causality Analysis for OECD Countries”, Anadolu Üniversitesi Sosyal Bilimler Dergisi, 16 (1) , 39-48.
• United Nations (2005), “Globalization of R&D and Developing Countries”, United Nations Publications.
• Ülger, Ö.; Uçan, O. (2018), “R&D Expenditures - Growth Nexus in Turkey”, International Journal of Economics Politics Humanities and Social Sciences , 1(2), 57-74.
• Wakelin, K. (2001), “Productivity Growth and R&D Expenditure in UK Manufacturing Firms”, Research Policy, 30(7), 1079-1090.
• Wang, E. (2007), “R&D Efficiency and Economic Performance: A Cross-Country Analysis Using the Stochastic Frontier Approach”, Journal of Policy Modeling, 29(2), 345-360.
• Yao, X.; Hu, Y.; Gong, H.; Chen, D. (2021), “Characteristics and Evolution of China’s Industry–University–Research Collaboration to Promote the Sustainable Development: Based on Policy Text Analysis”, Sustainability, 13, 13105.
• Yu Xiea, Y.; Zhangc, C.; Lai, O. (2014), “China’s Rise as a Major Contributor to Science and Technology”, PNAS, 111(26), 9437–9442.