THE RELATIONSHIP BETWEEN R&D EXPENDITURES AND ECONOMIC GROWTH: THE CASE OF TURKEY, 1990 ? 2011

Abstract

Author(s): Merter AKINCI, Haktan SEV?NÇ

In this study, the relationship between R&D expenditures and economic growth is analyzed for Turkish economy in the period 1990–2011. Johansen–Juselius cointegration test that is applied to determine the long-run relationship between the variables points out that there are not any long-run relationships among the variables. In order to determine the causal links between the variables, Granger causality test is used and the findings reveal that there is a unidirectional causality from private, higher education and total R&D expenditures to economic growth. Besides, OLS estimating results show that except the public R&D expenditures, private, higher education and total R&D expenditures have a positive and significant impact on the economic growth. According to all results of the analysis, it can be said that R&D expenditures accelerate the economic growth process in Turkey and therefore these kind of investments are need to be increased.

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