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RETURNS TO INNOVATION AND GROWTH: A PANEL DATA APPROACH FOR MIDDLE INCOME COUNTRIES

Yıl 2018, Prof. Dr. Harun TERZİ Özel Sayısı, 243 - 256, 19.09.2018
https://doi.org/10.18092/ulikidince.433726

Öz

Bu çalışmanın amacı, gayri safi yurtiçi hasılanın büyümesi
ile inovasyona bağlı faaliyetler arasındaki ilişkiyi araştırmaktır. 2012-2016
yılları arasında 5 yıllık süreyi kapsayan sekiz orta gelirli ülkenin dahil
edildiği bir örneklem üzerinde panel veri analizi yapılmıştır. Araştırmanın
bulguları, eğitim harcamaları, fen ve mühendislik mezunları, bilgiye dayalı
istihdam, bilimsel ve teknik makaleler, nüfus ve doğrudan yabancı yatırımların
büyümeye pozitif etki ettiğini göstermektedir. Bu nedenle, orta gelirli
ülkelerde inovasyon ile ilgili faaliyetler ve ekonomik büyüme arasında güçlü
bir ilişki olduğu sonucuna varılmıştır. Orta gelirli ülkelerin, gelirlerini
daha yüksek seviyelere çıkarabilmek için AR-GE ve inovasyona daha fazla
odaklanmaları önerilmektedir.

Kaynakça

  • Akçalı, B. Y. and Şişmanoğlu, E. (2015). Innovation and the Effect of Research and Development (R&D) Expenditure on Growth in Some Developing and Developed Countries. Procedia - Social and Behavioral Sciences, 195, 768-775.
  • Altın, O. and Kaya, A. (2009). Türkiye’de AR-GE Harcamaları ve Ekonomik Büyüme Arasındaki Nedensel İlişkinin Analizi. Ege Akademik Bakış, 9(1), 251-259.
  • Aslan, H.K. (2014). Avoiding the Middle Income Trap through the Development of Human Capital. Bilgesam Analysis / Political Economy, 1110.
  • Barro, R. J. and Lee, J. W. (2010). A New Data Set of Educational Attainment in the World, 1950-2010. NBER Working Paper, 15902.
  • Belitz, H., Junker, S., Podstawski, M. and Schiersch, A. (2015). Growth through Research and Development. DIW Economic Bulletin, 5(35), 455-465.
  • Bond, S., Hoeffler, A. and Temple, J. (2001). GMM Estimation of Empirical Growth Models. Economics Papers, 2001-W21.
  • Bozkurt, C. (2015). R&D Expenditures and Economic Growth Relationship in Turkey. International Journal of Economics and Financial Issues, 5(1), 188-198.
  • Brenner, T., Capasso, M., Duschl, M., Frenken, K. and Treibich T. (2018). Causal relations between knowledge-intensive business services and regional employment growth. Regional Studies, 52(2), 172-183.
  • Bucci, A., Eraydın, L. and Müller, M. (2018). Dilution Effects, Population Growth and Economic Growth under Human Capital Accumulation and Endogenous Technological Change. Working Paper Series in Economics, Karlsruher Institut für Technologie (KIT), 113.
  • Charles, I. J. and John C. W. (1999). Too Much of a Good Thing? The Economics of Investment in R&D. NBER Working Paper, 7283.
  • Chatterji, M. (1997). Tertiary Education and Economic Growth. Regional Studies, 32(4), 349- 354.
  • Coe, D. T. and Helpman, E.(1995). International R&D spillovers. European Economic Review, 39(5), 859–887.
  • Coe, D.T., Helpman, E. and Hoffmaister, A.W. (2009). International R&D spillovers and institutions. European Economic Review, 53(7), 723–741.
  • Colecchia, A. and Schreyer, P. (2002). The contribution of information and communication technologies to economic growth in nine OECD countries. OECD Economic Studies, 1(5), 153–171.
  • Com (2003). Investing in research: an action plan for Europe. 226 final/2.
  • Çakmak, E. and Gümüş, S.(2005). Türkiye’de beşeri sermaye ve ekonomik büyüme: Ekonometrik bir analiz (1960-2002). Ankara Üniversitesi SBF Dergisi, 60(1), 59-72.
  • Çetin, D. and Cincera, M. (2015). Circular Causality of R&D and Export in EU countries. World Journal of Applied Economics, 1, 82-105.
  • Dewan, E. and Hussein, S. (2001). Determinants of Economic Growth (Panel Data Approach). Working Paper Economics Department Reserve Bank of Fiji, 1(4).
  • Drysdale, P. (2012). Asia’s Human Capital and the Middle Income Trap. East Asia Forum.
  • Eichengreen, B., Park, D. and Shin, K. (2013). Growth Slowdowns Redux: New Evidence on the Middle-Income Trap. NBER Working Paper, 18673.
  • European Commission JRC Annual Report (2012).
  • Felipe, J., Kumar, U., Abdon, A. and Bacate, M. (2012). Product complexity and economic development. Structural Change and Economic Dynamics, 23, 36–68.
  • Global Innovation Index (2016).
  • Griffith, R. (2000). How Important Is Business R&D for Economic Growth and Should the Government Subsidies It?. The Institute for Fiscal Studies Briefing Note, 12.
  • Gust, C. and Jaime, M. (2004). International comparisons of productivity growth: the role of information technology and regulatory practices. Labour Economics, 11(1), 33-58.
  • Hidalgo, C. and Hausmann, R. (2009). The building blocks of economic complexity. Proceedings of the National Academy of Sciences of the United States of America, 106(26), 10570–10575.
  • Ifa, A. and Guetat, I. (2018). Does Public Expenditure on Education Promote Tunisian and Moroccan GDP per capita? ARDL Approach. The Journal of Finance and Data Science, 1(3).
  • Jones, C. I. and Williams, J.C. (1999). Too Much of a Good Thing? The Economics of Investment in R&D. Working Papers 99015, Stanford University, Department of Economics.
  • Kagermann, H., Wahlster, W. and Helbig, J. (2013). Recommendations for Implementing the Strategic Initiative Industrie 4.0. Available at: < http://www.acatech.de/fileadmin/user_upload/Baumstruktur_nach_Website/Acatech/root/de/Material_fuer_Sonderseiten/Industrie_4.0/Final_report__Industrie_4.0_accessible.pdf> [Accessed: March 30, 2018]
  • Kim, L.W. (2011). The Economic Growth Effect of R&D Activity in Korea. Korea and the World Economy, 12(1), 25-44.
  • Kokko, A., Gustavsson Tingvall, P. and Videnord, J. (2015). The Growth Effects of R&D Spending in the EU: A Meta-Analysis. Economics Discussion Papers, 9(40).
  • Korkmaz, S. (2010). Türkiye’de Ar-Ge Yatırımları ve Ekonomik Büyüme Arasındaki İlişkinin Var Modeli ile Analizi. Journal of Yasar University, 20(5), 3320-3330.
  • Kretschmer, T.(2012). Information and Communication Technologies and Productivity Growth: A Survey of the Literature. OECD Digital Economy Papers, 195, OECD Publishing, Paris.
  • Mankiw, N. G., Romer, D. and Weil, D. N. (1992). A Contribution to the Empirics of Economic Growth. The Quarterly Journal of Economics, 107(2), 407-437.
  • Mercan, M. and Sezer, S. (2014). The Effect of Education Expenditure on Economic Growth: The Case of Turkey. Procedia - Social and Behavioral Sciences, 109, 925-930.
  • Moretti, E. and Thulin, P. (2013). Local multipliers and human capital in the United States and Sweden. Industrial and Corporate Change, 22(1), 39–362.
  • OECD (2013). Raising the Returns to Innovation: Structural Policies for a Knowledge-based Economy. OECD Economics Department Policy Notes, Vol. 17.
  • Olivier B. and Johnson, D. R. (2013). Macroeconomics, Boston: Pearson Education Ltd.
  • Peri, G. and Shih, K. (2013). Foreign Scientists and Engineers and Economic Growth in Canadian Labor Markets. IZA Discussion Paper, 7367.
  • Rajapathirana, R.P.J. and Hui, Y. (2018). Relationship between Innovation Capability, Innovation Type, and Firm Performance. Journal of Innovation & Knowledge, 3(1), 44–55.
  • Romer, P. M. (1990). Endogenous Technological Change. Journal of Political Economy, 98(5), 71-102.
  • Schmidheiny, K. (2016). Short Guides to Micro econometrics. Available at: <http://schmidheiny.name/teaching,> [Accessed: January 3, 2018]
  • Solow (1956). Technical Change and the Aggregate Production Function. The Review of Economics and Statistics, 39(3), 312-320.
  • Şahin, B. E. (2015). The Relationship between R&D Expenditures and Economic Growth: Panel Data Analysis 1990-2013. 207, EY International Congress on Economics II (EYC2015), Ankara, Turkey from Ekonomik Yaklasim Association.
  • Timmer, M. P. and Ark, v. B. (2005). Does Information and Communication Technology Drive EU-US Productivity Growth Differentials?. Oxford Economic Papers, 57(4), 693–716.
  • Ulku, H. (2004). R&D, Innovation, and Economic Growth: An Empirical Analysis. IMF Working Paper, 185(4).
  • UNIDO (2013). Creative Industries for Youth: Unleashing Potential and Growth. United Nations Industrial Development Organization. Vienna.
  • Urhie, E. (2014). Public Education Expenditure and Economic Growth in Nigeria: A Disaggregated Approach. Journal of Empirical Economics, 3(6), 370-382.
  • Yasar, A.B. and Sismanoglu, E. (2015). Innovation and the Effect of Research and Development (R&D) Expenditure on Growth in Some Developing and Developed Countries. Procedia Social and Behavioral Sciences, 195, 768-775.
  • Yılmaz, G. (2014). Turkish Middle Income Trap and Less Skilled Human Capital, Central Bank of the Republic of Turkey. Working Paper, 14(30).

RETURNS TO INNOVATION AND GROWTH: A PANEL DATA APPROACH FOR MIDDLE INCOME COUNTRIES

Yıl 2018, Prof. Dr. Harun TERZİ Özel Sayısı, 243 - 256, 19.09.2018
https://doi.org/10.18092/ulikidince.433726

Öz

This paper attempts to investigate
the relationship between the growth of gross domestic product and innovation
related activities
. A panel data analysis
is conducted
on a sample of eight middle-income
countries covering 5-year time period from 2012-2016. The major findings of the
study show a significant positive impact of expenditure on education, graduates
in science and engineering, knowledge intensive employment, scientific and
technical articles, population and foreign direct investments on the growth of gross
domestic product. Hence, we conclude that there is a strong relation between
innovation-related activities and economic growth in middle-income countries.
Therefore, we suggest that middle-income countries should focus more on R&D
and innovation related activities to grow and change their income status to
higher income levels.

Kaynakça

  • Akçalı, B. Y. and Şişmanoğlu, E. (2015). Innovation and the Effect of Research and Development (R&D) Expenditure on Growth in Some Developing and Developed Countries. Procedia - Social and Behavioral Sciences, 195, 768-775.
  • Altın, O. and Kaya, A. (2009). Türkiye’de AR-GE Harcamaları ve Ekonomik Büyüme Arasındaki Nedensel İlişkinin Analizi. Ege Akademik Bakış, 9(1), 251-259.
  • Aslan, H.K. (2014). Avoiding the Middle Income Trap through the Development of Human Capital. Bilgesam Analysis / Political Economy, 1110.
  • Barro, R. J. and Lee, J. W. (2010). A New Data Set of Educational Attainment in the World, 1950-2010. NBER Working Paper, 15902.
  • Belitz, H., Junker, S., Podstawski, M. and Schiersch, A. (2015). Growth through Research and Development. DIW Economic Bulletin, 5(35), 455-465.
  • Bond, S., Hoeffler, A. and Temple, J. (2001). GMM Estimation of Empirical Growth Models. Economics Papers, 2001-W21.
  • Bozkurt, C. (2015). R&D Expenditures and Economic Growth Relationship in Turkey. International Journal of Economics and Financial Issues, 5(1), 188-198.
  • Brenner, T., Capasso, M., Duschl, M., Frenken, K. and Treibich T. (2018). Causal relations between knowledge-intensive business services and regional employment growth. Regional Studies, 52(2), 172-183.
  • Bucci, A., Eraydın, L. and Müller, M. (2018). Dilution Effects, Population Growth and Economic Growth under Human Capital Accumulation and Endogenous Technological Change. Working Paper Series in Economics, Karlsruher Institut für Technologie (KIT), 113.
  • Charles, I. J. and John C. W. (1999). Too Much of a Good Thing? The Economics of Investment in R&D. NBER Working Paper, 7283.
  • Chatterji, M. (1997). Tertiary Education and Economic Growth. Regional Studies, 32(4), 349- 354.
  • Coe, D. T. and Helpman, E.(1995). International R&D spillovers. European Economic Review, 39(5), 859–887.
  • Coe, D.T., Helpman, E. and Hoffmaister, A.W. (2009). International R&D spillovers and institutions. European Economic Review, 53(7), 723–741.
  • Colecchia, A. and Schreyer, P. (2002). The contribution of information and communication technologies to economic growth in nine OECD countries. OECD Economic Studies, 1(5), 153–171.
  • Com (2003). Investing in research: an action plan for Europe. 226 final/2.
  • Çakmak, E. and Gümüş, S.(2005). Türkiye’de beşeri sermaye ve ekonomik büyüme: Ekonometrik bir analiz (1960-2002). Ankara Üniversitesi SBF Dergisi, 60(1), 59-72.
  • Çetin, D. and Cincera, M. (2015). Circular Causality of R&D and Export in EU countries. World Journal of Applied Economics, 1, 82-105.
  • Dewan, E. and Hussein, S. (2001). Determinants of Economic Growth (Panel Data Approach). Working Paper Economics Department Reserve Bank of Fiji, 1(4).
  • Drysdale, P. (2012). Asia’s Human Capital and the Middle Income Trap. East Asia Forum.
  • Eichengreen, B., Park, D. and Shin, K. (2013). Growth Slowdowns Redux: New Evidence on the Middle-Income Trap. NBER Working Paper, 18673.
  • European Commission JRC Annual Report (2012).
  • Felipe, J., Kumar, U., Abdon, A. and Bacate, M. (2012). Product complexity and economic development. Structural Change and Economic Dynamics, 23, 36–68.
  • Global Innovation Index (2016).
  • Griffith, R. (2000). How Important Is Business R&D for Economic Growth and Should the Government Subsidies It?. The Institute for Fiscal Studies Briefing Note, 12.
  • Gust, C. and Jaime, M. (2004). International comparisons of productivity growth: the role of information technology and regulatory practices. Labour Economics, 11(1), 33-58.
  • Hidalgo, C. and Hausmann, R. (2009). The building blocks of economic complexity. Proceedings of the National Academy of Sciences of the United States of America, 106(26), 10570–10575.
  • Ifa, A. and Guetat, I. (2018). Does Public Expenditure on Education Promote Tunisian and Moroccan GDP per capita? ARDL Approach. The Journal of Finance and Data Science, 1(3).
  • Jones, C. I. and Williams, J.C. (1999). Too Much of a Good Thing? The Economics of Investment in R&D. Working Papers 99015, Stanford University, Department of Economics.
  • Kagermann, H., Wahlster, W. and Helbig, J. (2013). Recommendations for Implementing the Strategic Initiative Industrie 4.0. Available at: < http://www.acatech.de/fileadmin/user_upload/Baumstruktur_nach_Website/Acatech/root/de/Material_fuer_Sonderseiten/Industrie_4.0/Final_report__Industrie_4.0_accessible.pdf> [Accessed: March 30, 2018]
  • Kim, L.W. (2011). The Economic Growth Effect of R&D Activity in Korea. Korea and the World Economy, 12(1), 25-44.
  • Kokko, A., Gustavsson Tingvall, P. and Videnord, J. (2015). The Growth Effects of R&D Spending in the EU: A Meta-Analysis. Economics Discussion Papers, 9(40).
  • Korkmaz, S. (2010). Türkiye’de Ar-Ge Yatırımları ve Ekonomik Büyüme Arasındaki İlişkinin Var Modeli ile Analizi. Journal of Yasar University, 20(5), 3320-3330.
  • Kretschmer, T.(2012). Information and Communication Technologies and Productivity Growth: A Survey of the Literature. OECD Digital Economy Papers, 195, OECD Publishing, Paris.
  • Mankiw, N. G., Romer, D. and Weil, D. N. (1992). A Contribution to the Empirics of Economic Growth. The Quarterly Journal of Economics, 107(2), 407-437.
  • Mercan, M. and Sezer, S. (2014). The Effect of Education Expenditure on Economic Growth: The Case of Turkey. Procedia - Social and Behavioral Sciences, 109, 925-930.
  • Moretti, E. and Thulin, P. (2013). Local multipliers and human capital in the United States and Sweden. Industrial and Corporate Change, 22(1), 39–362.
  • OECD (2013). Raising the Returns to Innovation: Structural Policies for a Knowledge-based Economy. OECD Economics Department Policy Notes, Vol. 17.
  • Olivier B. and Johnson, D. R. (2013). Macroeconomics, Boston: Pearson Education Ltd.
  • Peri, G. and Shih, K. (2013). Foreign Scientists and Engineers and Economic Growth in Canadian Labor Markets. IZA Discussion Paper, 7367.
  • Rajapathirana, R.P.J. and Hui, Y. (2018). Relationship between Innovation Capability, Innovation Type, and Firm Performance. Journal of Innovation & Knowledge, 3(1), 44–55.
  • Romer, P. M. (1990). Endogenous Technological Change. Journal of Political Economy, 98(5), 71-102.
  • Schmidheiny, K. (2016). Short Guides to Micro econometrics. Available at: <http://schmidheiny.name/teaching,> [Accessed: January 3, 2018]
  • Solow (1956). Technical Change and the Aggregate Production Function. The Review of Economics and Statistics, 39(3), 312-320.
  • Şahin, B. E. (2015). The Relationship between R&D Expenditures and Economic Growth: Panel Data Analysis 1990-2013. 207, EY International Congress on Economics II (EYC2015), Ankara, Turkey from Ekonomik Yaklasim Association.
  • Timmer, M. P. and Ark, v. B. (2005). Does Information and Communication Technology Drive EU-US Productivity Growth Differentials?. Oxford Economic Papers, 57(4), 693–716.
  • Ulku, H. (2004). R&D, Innovation, and Economic Growth: An Empirical Analysis. IMF Working Paper, 185(4).
  • UNIDO (2013). Creative Industries for Youth: Unleashing Potential and Growth. United Nations Industrial Development Organization. Vienna.
  • Urhie, E. (2014). Public Education Expenditure and Economic Growth in Nigeria: A Disaggregated Approach. Journal of Empirical Economics, 3(6), 370-382.
  • Yasar, A.B. and Sismanoglu, E. (2015). Innovation and the Effect of Research and Development (R&D) Expenditure on Growth in Some Developing and Developed Countries. Procedia Social and Behavioral Sciences, 195, 768-775.
  • Yılmaz, G. (2014). Turkish Middle Income Trap and Less Skilled Human Capital, Central Bank of the Republic of Turkey. Working Paper, 14(30).
Toplam 50 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm MAKALELER
Yazarlar

Çiydem Çatak

Elif Nuroğlu

Yayımlanma Tarihi 19 Eylül 2018
Yayımlandığı Sayı Yıl 2018 Prof. Dr. Harun TERZİ Özel Sayısı

Kaynak Göster

APA Çatak, Ç., & Nuroğlu, E. (2018). RETURNS TO INNOVATION AND GROWTH: A PANEL DATA APPROACH FOR MIDDLE INCOME COUNTRIES. Uluslararası İktisadi Ve İdari İncelemeler Dergisi243-256. https://doi.org/10.18092/ulikidince.433726


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