THE EFFECTS OF R&D EXPENDITURE ON ECONOMIC DEVELOPMENT

Abstract

Author(s): Oytun MEÇ?K

The aim of this study is to present the effects of the R&D expenditures on economic growth in OECD countries. In the study, for the purpose of analyzing the effects of the R&D expenditures on economic growth, Cobb-Douglas production function model and panel data set of OECD countries are used. The findings indicate that the variables of labor, capital and R&D expenditures have positive and significant effects on economic growth. Within this context, it is possible to evaluate the R&D expenditures are supportive factor on the process of the economic growth.

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