The Relationship between R-D Expenditures and Economic Growth: A Case of the Central Asian Republics and Turkey

Research and Development (R-D), which means of new technology, new information, new production technics and new product is one of the most important resources of human capital. In endogenously growth theories, the relationship between R-D expenditure and economic growth that was developed by Romer, Grossman-Helpman and Aghion-Howitt, has directed a lot of studies nowadays. Enterprises have to seeking innovation to obtain. This seeking innovation, will raise efficiency and contribute the economic growth. Multiple countries which provide competitive power in science and technology and product technology and information based products, are inside the developed countries today. In this study, the relationship between R-D expenditures and economic growth was tested with panel data analysis for the four Central Asian Republic (Kazakhstan, Kyrgyzstan, Tajikistan and Azerbaijan) and for Turkey. General theory shows that there is a positive relationship between R-D and economic growth. This relationship will analyzed for the this five country. In this context, to test the data’s stability, we made Levin-Lin and Chu (LLC) Panel Unit Root Test. After that, we made Pedroni Cointegration and Panel Granger Causality tests. In the conclusion of the analysis it has been reached that there is a one-sided causal relation from economic growth to R-D expenditures. On the other hand there is no causal relation from R-D expenditures to economic growth.

Keywords:

R-D Expenditures economic growth, panel data,

PDF

___

Aghion, P., Howitt, P. (1992), “A Model of Growth Through Creative Destruction”
Econometrica, Vol:60, No:2, March 1992, s.323-351, JSTOR.
Altıntaş, H., Mercan, M. (2015), “Ar-Ge Harcamaları ve Ekonomik Büyüme İlişkisi: OECD
Ülkeleri Üzerine Yatay Kesit Bağımlılığı Altında Panel Eşbütünleşme Analizi” Ankara Üniversitesi, SBF Dergisi, Vol.70/2, pp. 345-376. Ateş, S. (1998), “İçsel Büyüme Modellerinde Fiziksel Sermaye Yatırımlarının Önemi:
Uluslararası Verilerle Bir Bakış” Çukurova Üniversitesi, İ.İ.B.F. Dergisi, Vol.8/1, Adana. Coe, DT., Helpman, E.(1995), “International R&D Spillovers” European Economic Review (1995) 859-887.
Deliktaş, E. (2001), “Malthusgil Yaklaşımdan Modern Ekonomik Büyümeye” Ege Akademik Bakış, Vol.1/1, pp.92-114, İzmir.
Falk, M. (2007), “R&D Spending in The High-Tech Sector and Economic Growth” Research in Economics, 61 (3):140-147.
Freire-Serén, M. (2001), “R&D-Expenditure in an Endogenous Growth Model” Journal of
Economics, Vol.74 (2001) No.1, pp.39-62.
Goel, RK., Ram, R. (1994), “Research and Development Expenditures and Economic
Growth: A Cross-Country Study” Economic Development and Cultural Change, Vol:42, No:2, January 1994, pp.403-411.
Granger, C.W.J. (1969). “Investigating Causal Relations By Econometric Models And Cross
Spectral Methods” Econometrica, Vol.37, No:3, July 1969.
Grossman, GM., Helpman, E. (1988), “Product Development and International Trade” NBER
Working Paper Series, Working Paper, No:2540, May 1988, Camridge.
Grossman, GM., Helpman, E. (2003), “Dış Ticaret, Bilgi Taşmaları ve Büyüme” Çev., Adem
Üzümcü, C.Ü. İktisadi ve İdari Bilimler Dergisi, Vol.4/2, Sivas. Gülmez, A., Yardımcıoğlu, F. (2012), “OECD Ülkelerinde Ar-Ge Harcaması ve Ekonomik
Büyüme İlişkisi: Panel Eşbütünleşme ve Panel Nedensellik Analizi (1990-2010)” Maliye
Dergisi, No:163, July-December 2012, pp.335-353.
Holtz-Eakin, D, W. Newey, H. Rosen (1988). “Estimating Vector Autoregressions With Panel
Data” Econometrica, 56(6), s.1371-1395.
Öztürk, N., Darıcı, H.K., Kesikoğlu F., (2011). “Ekonomik Büyüme ve Finansal Gelişme
İlişkisi: Gelişmekte Olan Piyasalar İçin Bir Panel Nedensellik Analizi” Marmara Üniversitesi, İİBF Dergisi, Vol.30/1, pp.53-69, İstanbul. Rivera-Batiz, Luis A., Romer, P.M. (1990), “International Trade With Endogenous
Technological Change” NBER Working Papers Series, Working Paper No:3594, Cambridge.
Romer, P.M. (1994), “The Origins of Endogenous Growth” The Journal of Economic
Perspectives, Volume:8, No:1, s.3-22, JSTOR. Samimi, A. J., Alerasoul, S. M. (2009), “R&D and Economic Growth: New Evidence From
Some Developing Countries” Australian Journal of Basic and Applied Sciences, 3(4): 3464
Sylwester, K. (2001), “R&D and Economic Growth” Knowledge, Technology & Policy, Vol.13, No.4, pp.71-84.
Tuncel, CO. (2009), “Ar&Ge Tabanlı Büyüme Modelleri ve Geç Sanayileşen Ülkeler İçin
Politika Önerileri: Neoklasik ve Evrimci Büyüme Teorilerinin Karşılaştırmalı Analizi” Anadolu International Conference in Economics, June 17-19, 2009, Eskişehir.
Wang, David Han-Min, Tiffany Hui-Kuang Yu, Hong-Quan Liu (2013), “Heterogeneous
Effect of High-Tech Industrial R&D Spending on Economic Growth” Journal of Business Research, 66(10):1990-1993.
Wu, Y., Zhou, L. (2007), “Cointegration and Causality Between R&D Expenditure and Economic Growth in China: 1953-2004” International Conference on Public Administration, 76.
Yaylalı, M., Akan, Y., Işık, C. (2010) “Türkiye’de Ar-Ge Yatırım Harcamaları ve Ekonomik
Büyüme Arasındaki Eşbütünleşme ve Nedensellik İlişkisi: 1990-2009” Bilgi Ekonomisi ve Yönetim Dergisi, Vol.5/2, pp.13-26.