Investigation of the Effect of R&D Expenditures on Economic Growth in OECD Countries by Panel Cointegration

Research and development (R&D) activities, which are considered as the important power of economic growth, have an important role for the country's economy. The endogenous growth theories, which have become popular since the 1980s, have revealed the role of R&D in economic growth. The e...

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Autor principal:	Pınar ÇOMUK
Formato:	article
Lenguaje:	EN
Publicado:	Dunarea de Jos University of Galati 2021
Materias:	r&d economic growth panel data analysis oecd Electronic computers. Computer science QA75.5-76.95 Economic theory. Demography HB1-3840 Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/93feacfca8724c48ae2f6f617c4c536c
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spelling	oai:doaj.org-article:93feacfca8724c48ae2f6f617c4c536c2021-11-16T14:16:25ZInvestigation of the Effect of R&D Expenditures on Economic Growth in OECD Countries by Panel Cointegration10.35219/eai158404091871584-0409https://doaj.org/article/93feacfca8724c48ae2f6f617c4c536c2021-09-01T00:00:00Zhttp://www.eia.feaa.ugal.ro/images/eia/2021_2/PinarComuk.pdfhttps://doaj.org/toc/1584-0409Research and development (R&D) activities, which are considered as the important power of economic growth, have an important role for the country's economy. The endogenous growth theories, which have become popular since the 1980s, have revealed the role of R&D in economic growth. The effects of technology and R&D activities on economic growth (GDP) have been studied for a long time in the economics literature. In the new economic order emerging in the globalization process, it is possible to increase the production of products with high added value, especially through R&D activities. Therefore, the shares allocated to R&D and the expenditures made stand out as an important factor in the realization of growth. As the share of R&D expenditures on GDP increases, it is thought that technological innovation and development will increase and contribute to sustainable growth. In this study, the relationship between R&D expenditures and economic growth was examined with a panel data model for 33 OECD countries over the period of 2010-2018. As a result of the analysis, it has been revealed that R&D expenditures have a positive effect on growth. For this reason, it can be said that countries aiming to accelerate economic growth as a policy recommendation should focus on R&D investments.Pınar ÇOMUKDunarea de Jos University of Galatiarticler&deconomic growthpanel data analysisoecdElectronic computers. Computer scienceQA75.5-76.95Economic theory. DemographyHB1-3840Economics as a scienceHB71-74ENAnnals of Dunarea de Jos University. Fascicle I : Economics and Applied Informatics, Vol 27, Iss 2, Pp 21-25 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	r&d economic growth panel data analysis oecd Electronic computers. Computer science QA75.5-76.95 Economic theory. Demography HB1-3840 Economics as a science HB71-74
spellingShingle	r&d economic growth panel data analysis oecd Electronic computers. Computer science QA75.5-76.95 Economic theory. Demography HB1-3840 Economics as a science HB71-74 Pınar ÇOMUK Investigation of the Effect of R&D Expenditures on Economic Growth in OECD Countries by Panel Cointegration
description	Research and development (R&D) activities, which are considered as the important power of economic growth, have an important role for the country's economy. The endogenous growth theories, which have become popular since the 1980s, have revealed the role of R&D in economic growth. The effects of technology and R&D activities on economic growth (GDP) have been studied for a long time in the economics literature. In the new economic order emerging in the globalization process, it is possible to increase the production of products with high added value, especially through R&D activities. Therefore, the shares allocated to R&D and the expenditures made stand out as an important factor in the realization of growth. As the share of R&D expenditures on GDP increases, it is thought that technological innovation and development will increase and contribute to sustainable growth. In this study, the relationship between R&D expenditures and economic growth was examined with a panel data model for 33 OECD countries over the period of 2010-2018. As a result of the analysis, it has been revealed that R&D expenditures have a positive effect on growth. For this reason, it can be said that countries aiming to accelerate economic growth as a policy recommendation should focus on R&D investments.
format	article
author	Pınar ÇOMUK
author_facet	Pınar ÇOMUK
author_sort	Pınar ÇOMUK
title	Investigation of the Effect of R&D Expenditures on Economic Growth in OECD Countries by Panel Cointegration
title_short	Investigation of the Effect of R&D Expenditures on Economic Growth in OECD Countries by Panel Cointegration
title_full	Investigation of the Effect of R&D Expenditures on Economic Growth in OECD Countries by Panel Cointegration
title_fullStr	Investigation of the Effect of R&D Expenditures on Economic Growth in OECD Countries by Panel Cointegration
title_full_unstemmed	Investigation of the Effect of R&D Expenditures on Economic Growth in OECD Countries by Panel Cointegration
title_sort	investigation of the effect of r&d expenditures on economic growth in oecd countries by panel cointegration
publisher	Dunarea de Jos University of Galati
publishDate	2021
url	https://doaj.org/article/93feacfca8724c48ae2f6f617c4c536c
work_keys_str_mv	AT pınarcomuk investigationoftheeffectofrdexpendituresoneconomicgrowthinoecdcountriesbypanelcointegration
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Investigation of the Effect of R&D Expenditures on Economic Growth in OECD Countries by Panel Cointegration

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