THE RELATIONSHIP BETWEEN R&D EXPENDITURES AND INNOVATIVE DEVELOPMENT: A PANEL DATA ANALYSIS FOR SELECTED OECD COUNTRIES

Öz Research and development expenditures are one of the most important variables under consideration in order to achieve innovative development. Research and development (R&D) expenditures primarily increase the number of patents applied in a country. The increase in the number of patents applied contributes to the innovative development of the countries and shifts the countries’ exports from lowtech products to high-tech products. In this study, the relationship between R&D expenditures, hightech product exports and the number of patent applications were examined using data from 1997 to 2016 for 25 OECD member countries. In the study where the presence of cross-sectional dependence among the countries was determined, the stationary of the series were examined by the CIPS method, and it was determined that the series were stationary in the first difference. The cointegrations of the series were examined by the Westerlund method, and it was found that they were not cointegrations. Then, Dumitrescu and Hurlin’s methods were used to test Granger causality. According to the test results, there is a mutual causality relationship between R&D expenditures and at least one unit of hightech product exports and R&D expenditures and patent applications.

Anahtar Kelimeler:

R&D expenditures, innovative development, panel data analysis

PDF

___

AYHAN, A. (2002). Dünden Bugüne Türkiye’de Bilim-Teknoloji ve Geleceğin Teknolojileri, İstanbul, Beta Basım Yayım Dağıtım A.Ş.

BEDNAR, P., HALASKOVA, M. (2018). Innovation Performance and R&D Expenditures in Western European Regions: Divergence or Convergence?, Journal of International Studies, 11(1):210-224.

BRAUNERHJELM, P., THULIN, P. (2008). Can Countries Create Comparative Advantages? R&D Expenditures, High-tech Exports and Country Size in 19 OECD Countries: 1981-1999, International Economic Journal, 22(1):95-111.

DUMITRESCU, E. I., HURLIN, C. (2012). Testing for Granger Non-Causality in Heterogeneous Panels, Economic Modelling, 29(4): 1450-1460.

GULMEZ, A., YARDIMCIOGLU, F. (2012). OECD Ülkelerinde Ar-Ge Harcamaları ve Ekonomik Büyüme İlişkisi: Panel Eşbütünleşme ve Panel Nedensellik Analizi (1990-2010), Maliye Dergisi, (163):335-353.

KIRANKABES, M.C., ERCAKAR, M.E. (2012). Importance of Relationship between R&D Personnel and Patent Applications on Economics Growth: A Panel Data Analysis, International Research Journal of Finance and Economics, 92, 72-81.

MERCAN, B., GOKTAS, D., GOMLEKSIZ M. (2011). Ar-Ge Faaliyetleri ve İnovasyon Üzerindeki Etkileri: Patent Verileri Üzerine Bir Uygulama, Paradoks: The Journal of Economics, Sociology and Politics, 7(2): 29-43.

PESARAN, M. H. (2015). Testing Weak Cross-Sectional Dependence in Large Panels, Econometric Reviews, (34):1089-1117.

ROMER, P. M. (1986). Increasing Returns and Long-Run Growth, The Journal of Political Economy, 94(5):1002-1037.

SALIM, R. A., BLOCH, B. (2009). Business expenditures on R&D and trade performances in Australia: is there a link?, Applied Economics, 41: 351–361.

SEYOUM, B. (2004). The Role of Factor Conditions in High-Technology Exports: An Empirical Examination, Journal of High Technology Management Research, 15(1): 145-162.

SRHOLEC, M. (2007). High-Tech Exports from Developing Countries: A Symptom of Technology Spurts or Statistical Illusion?, Review of World Economics/Weltwirtschaftliches Archiv, 143 (2): 227–255.

TATOGLU, F. Y. (2017) Panel Zaman Serileri Analizi, Beta Yayınevi, İstanbul.

WANG, E.C. (2007). R&D Efficiency and Economic Performance: A Cross-Country Analysis Using The Stochastic Frontier Approach, Journal of Policy Modeling, 29(2), 345-360.

WESTERLUND, J. (2007) Testing for Error Correction in Panel Data, Oxford Bulletin of Economics and Statistics, (69):709-748.